20 U.S. Code § 7281b - Maximum amount

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(a) Maximum amount
The maximum amount that a local educational agency is eligible to receive under this subpart for any fiscal year, when combined with its payment under section 7702 (b) of this title, shall not be more than 50 percent of the maximum amount determined under section 7702 (b) of this title.
(b) Insufficient funds
If funds appropriated under section 7241 of this title are insufficient to pay the amount determined under subsection (a) of this section, the Secretary shall ratably reduce the payment to each local educational agency eligible under this subpart.
(c) Excess funds
If funds appropriated under section 7241 of this title are in excess of the amount determined under subsection (a) of this section, the Secretary shall ratably distribute any excess funds to all local educational agencies eligible for payment under section 7702 (b) of this title.

Source

(Pub. L. 89–10, title V, § 5603, as added Pub. L. 107–110, title V, § 501,Jan. 8, 2002, 115 Stat. 1867.)

 

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