Page:United States Statutes at Large Volume 114 Part 3.djvu/412

 114 STAT. 1654A-370 PUBLIC LAW 106-398 —APPENDIX "(A) IN GENERAL.— The Secretary shall first make a foundation payment to each local educational agency that is eligible to receive a payment under this section for the fiscal year involved and was eligible to receive a pay- ment under section 2 of the Act of September 30, 1950 (Public Law 874, 81st Congress) (as such section was in efiect on the day preceding the date of the enactment of the Improving America's Schools Act of 1994) for any of the fiscal years 1989 through 1994. "(B) AMOUNT.— The amount of a payment under subparagraph (A) for a local educational agency shall be equal to 38 percent of the local educational agency's maximum entitlement amount under section 2 of the Act of September 30, 1950, for fiscal year 1994 (or if the local educational agency was not eligible to receive a payment under such section 2 for fiscal year 1994, the local educational agency's maximum entitlement amount under such section 2 for the most recent fiscal year preceding 1994). "(C) INSUFFICIENT APPROPRIATIONS. — If the amount appropriated under section 8014(a) is insufficient to pay the full amount determined under this paragraph for all eligible local educational agencies for the fiscal year, then the Secretary shall ratably reduce the payment to each local educational agency under this paragraph. "(2) PAYMENTS FOR 1995 RECIPIENTS.— "(A) IN GENERAL.— From any amounts remaining after making payments under paragraph (1) for the fiscal year involved, the Secretary shall make a payment to each eligible local educational agency that received a payment under this section for fiscal year 1995. "(B) AMOUNT.— The amount of a payment under subparagraph (A) for a local educational agency shall be determined as follows: "(i) Calculate the difference between the amount appropriated to carry out this section for fiscal year 1995 and the total amount of foundation payments made under paragraph (1) for the fiscal year. "(ii) Determine the percentage share for each local educational agency that received a payment under this section for fiscal year 1995 by dividing the assessed value of the Federal property of the local educational agency for fiscal year 1995 determined in accordance with subsection (b)(3), by the total eligible national assessed value of the eligible Federal property of all such local educational agencies for fiscal year 1995, as so determined. "(iii) Multiply the percentage share described in clause (ii) for the local educational agency by the amount determined under clause (i). "(3) SUBSECTION (i) RECIPIENTS. —From any funds remaining after making payments under paragraphs (1) and (2) for the fiscal year involved, the Secretary shall make payments in accordance with subsection (i). "(4) REMAINING FUNDS.— From any funds remaining after making payments under paragraphs (1), (2), and (3) for the fiscal year involved—

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