Sec. 1017. EDUCATION FINANCE INCENTIVE GRANT PROGRAM
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## SEC. 1017 EDUCATION FINANCE INCENTIVE GRANT PROGRAM Section 1125A (20 U.S.C. 6337) is amended— ####
(1)in subsection (a), by striking “funds appropriated under subsection (f)” and inserting “funds made available under section 1122(a)”; ####
(2)in subsection (b)(1)— #####
(A)in subparagraph (A), by striking “appropriated pursuant to subsection (f)” and inserting “made available for any fiscal year to carry out this section”; and #####
(B)in subparagraph (B)(i), by striking “total appropriations” and inserting “the total amount reserved under section 1122(a) to carry out this section”; ####
(3)in subsection (c), by redesignating subparagraphs
(A)and
(B)as paragraphs
(1)and (2), respectively; ####
(4)in subsection (d)(1)(A)(ii), by striking “clause “(i)” and inserting “clause (i)”; ####
(5)by striking subsection
(e)and inserting the following: > > ### “(e) Maintenance of Effort > > > #### “(1) In general > > A State is entitled to receive its full allotment of funds under this section for any fiscal year if the Secretary finds that the State’s fiscal effort per student or the aggregate expenditures of the State with respect to the provision of free public education by the State for the preceding fiscal year was not less than 90 percent of the fiscal effort or aggregate expenditures for the second preceding fiscal year, subject to the requirements of paragraph (2). > > > #### “(2) Reduction in case of failure to meet > > > ##### “(A) In general > > The Secretary shall reduce the amount of the allotment of funds under this section for any fiscal year in the exact proportion by which a State fails to meet the requirement of paragraph
(1)by falling below 90 percent of both the fiscal effort per student and aggregate expenditures (using the measure most favorable to the State), if such State has also failed to meet such requirement (as determined using the measure most favorable to the State) for 1 or more of the 5 immediately preceding fiscal years. > > > ##### “(B) Special rule > > No such lesser amount shall be used for computing the effort required under paragraph
(1)for subsequent years. > > > #### “(3) Waiver > > The Secretary may waive the requirements of this subsection if the Secretary determines that a waiver would be equitable due to— > > > ##### “(A) > > exceptional or uncontrollable circumstances, such as a natural disaster or a change in the organizational structure of the State; or > > > ##### “(B) > > a precipitous decline in the financial resources of the State.” > ; ####
(6)by striking subsection (f); ####
(7)by redesignating subsection
(g)as subsection (f); and ####
(8)in subsection (f), as redesignated by paragraph (7)— #####
(A)in paragraph (1), by striking “under this section” and inserting “to carry out this section”; and #####
(B)in paragraph (3), in the matter preceding subparagraph (A), by striking “shall be” and inserting “shall be—”. ### PART B STATE ASSESSMENT GRANTS
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Sec. 1017
EDUCATION FINANCE INCENTIVE GRANT PROGRAM
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