Sec. 4. Education Finance Incentive Grant Program
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Section 1125A(d)(1)(B) of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 6337(d)(1)(B) ) is amended— in clause (iii), by striking The amount and inserting Except as otherwise provided in clause (iv), the amount ; and by adding at the end the following: Notwithstanding clause
(iii)or any other provision of this subparagraph— for fiscal year 2016, clause
(iii)shall be applied— in subclause (II), by substituting 1.35 for 1.5 ; in subclause (III), by substituting 1.8 for 2.0 ; in subclause (IV), by substituting 2.25 for 2.5 ; and in subclause (V), by substituting 2.7 for 3.0 ; for fiscal year 2017, clause
(iii)shall be applied— in subclause (II), by substituting 1.2 for 1.5 ; in subclause (III), by substituting 1.6 for 2.0 ; in subclause (IV), by substituting 2.0 for 2.5 ; and in subclause (V), by substituting 2.4 for 3.0 ; for fiscal year 2018, clause
(iii)shall be applied— in subclause (II), by substituting 1.05 for 1.5 ; in subclause (III), by substituting 1.4 for 2.0 ; in subclause (IV), by substituting 1.75 for 2.5 ; and in subclause (V), by substituting 2.1 for 3.0 ; and for fiscal year 2019 and each succeeding fiscal year, clause
(iii)shall be applied— in subclause (II), by substituting 1.0 for 1.5 ; in subclause (III), by substituting 1.2 for 2.0 ; in subclause (IV), by substituting 1.5 for 2.5 ; and in subclause (V), by substituting 1.8 for 3.0 . . Section 1125A(d)(2)(B) of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 6337(d)(2)(B) ) is amended— in clause (iii), by striking The amount and inserting Except as otherwise provided in clause (iv), the amount ; and by adding at the end the following: Notwithstanding clause
(iii)or any other provision of this subparagraph— for fiscal year 2016, clause
(iii)shall be applied— in subclause (II), by substituting 1.35 for 1.5 ; in subclause (III), by substituting 2.025 for 2.25 ; in subclause (IV), by substituting 3.038 for 3.375 ; and in subclause (V), by substituting 4.05 for 4.5 ; for fiscal year 2017, clause
(iii)shall be applied— in subclause (II), by substituting 1.2 for 1.5 ; in subclause (III), by substituting 1.8 for 2.25 ; in subclause (IV), by substituting 2.7 for 3.375 ; and in subclause (V), by substituting 3.6 for 4.5 ; for fiscal year 2018, clause
(iii)shall be applied— in subclause (II), by substituting 1.05 for 1.5 ; in subclause (III), by substituting 1.575 for 2.25 ; in subclause (IV), by substituting 2.363 for 3.375 ; and in subclause (V), by substituting 3.15 for 4.5 ; and for fiscal year 2019 and each succeeding fiscal year, clause
(iii)shall be applied— in subclause (II), by substituting 1.0 for 1.5 ; in subclause (III), by substituting 1.35 for 2.25 ; in subclause (IV), by substituting 2.025 for 3.375 ; and in subclause (V), by substituting 2.70 for 4.5 . . Section 1125A(d)(3)(B) of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 6337(d)(3)(B) ) is amended— in clause (iii), by striking The amount and inserting Except as otherwise provided in clause (iv), the amount ; and by adding at the end the following: Notwithstanding clause
(iii)or any other provision of this subparagraph— for fiscal year 2016, clause
(iii)shall be applied— in subclause (II), by substituting 1.80 for 2.0 ; in subclause (III), by substituting 2.70 for 3.0 ; in subclause (IV), by substituting 4.05 for 4.5 ; and in subclause (V), by substituting 5.4 for 6.0 ; for fiscal year 2017, clause
(iii)shall be applied— in subclause (II), by substituting 1.6 for 2.0 ; in subclause (III), by substituting 2.4 for 3.0 ; in subclause (IV), by substituting 3.6 for 4.5 ; and in subclause (V), by substituting 4.8 for 6.0 ; for fiscal year 2018, clause
(iii)shall be applied— in subclause (II), by substituting 1.4 for 2.0 ; in subclause (III), by substituting 2.1 for 3.0 ; in subclause (IV), by substituting 3.15 for 4.5 ; and in subclause (V), by substituting 4.2 for 6.0 ; and for fiscal year 2019 and each succeeding fiscal year, clause
(iii)shall be applied— in subclause (II), by substituting 1.2 for 2.0 ; in subclause (III), by substituting 1.8 for 3.0 ; in subclause (IV), by substituting 2.7 for 4.5 ; and in subclause (V), by substituting 3.6 for 6.0 . .
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Sec. 4
Education Finance Incentive Grant Program
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