22.1-175.4 - Application for grants. - Virginia Statutes

§ 22.1-175.4. Application for grants.

A. All funds appropriated for financial assistance for the purposes of thischapter during fiscal years 1998-1999 and 1999-2000 pursuant to Item 554 ofthe 1998-2000 Appropriation Act shall be apportioned and distributed amongthe school divisions of the Commonwealth as follows: (i) there shall beapportioned and distributed equally to every school division grants in thesum of $200,000 each and (ii) the balance of all available funds shall beapportioned and distributed to each school division on a pro rata basisaccording to the school division's average daily membership adjusted by thelocality's composite index of ability to pay as set forth in the generalappropriation act.

Local governing bodies may establish a separate escrow fund for the depositof such funds as provided in § 22.1-175.5.

B. All funds appropriated for financial assistance for the purposes of thischapter for subsequent fiscal years shall be apportioned and distributedamong the school divisions of the Commonwealth in accordance with eligibilityand needs criteria to be established by the 2000 Session of the GeneralAssembly. In developing such eligibility and needs criteria, the 2000 Sessionof the General Assembly shall consider the recommendations of the Commissionon State Funding of Public School Construction.

(1998, Sp. Sess. I, c. 2; 1999, cc. 354, 391.)