(8) Excess costs The term “excess costs” means those costs that are in excess of the average annual per-student expenditure in a local educational agency during the preceding school year for an elementary school or secondary school student, as may be appropriate, and which shall be computed after deducting— (A) amounts received— (i) under subchapter II; (ii) under part A of title I of the Elementary and Secondary Education Act of 1965 [ 20 U.S.C. 6311 et seq.]; and (iii) under part A of title III of that Act [ 20 U.S.C. 6811 et seq.]; and (B) any State or local funds expended for programs that would qualify for assistance under any of those parts.