12 2 STA T .3 21 4PUBLIC LA W 11 0– 31 5— AU G .14 , 200 8(5)byinsert in gaf ter s u bse c ti o n( d ) (as redesignated by p aragrap h ( 2 )anda m ended by paragraph ( 4 )) the fo l lo w ing
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‘(e) PORTABIL IT Y O FAS SISTA NCE.— ‘‘( 1 ) I N G ENERAL.— E ach eligible entity described in section 4 0 4A(c)(1) that recei v es a grant under this chapter shall hold in reserve , for the students served by such grant as described in section 404 B (d)(1)(A) or 404 D (d), an amount that is not less than the minimum scholarship amount described in sub - section (d), multiplied by the number of students the eligible entity estimates will meet the re q uirements of paragraph (2). ‘‘(2) R E QU IRE M ENT FOR P ORTABILITY.— F unds held in reserve under paragraph (1) shall be made available to an eligible student when the eligible student has— ‘‘(A) completed a secondary school diploma, its recog- ni z ed equivalent, or another recognized alternative standard for individuals with disabilities
and ‘‘(B) enrolled in an institution of higher education. ‘‘( 3 ) Q UALIFIE D EDUCATIONAL E X PENSES.—Funds available to an eligible student under this subsection may be used for— ‘‘(A) tuition, fees, boo k s, supplies, and equipment required for the enrollment or attendance of the eligible student at an institution of higher education; and ‘‘(B) in the case of an eligible student with special needs, e x penses for special needs services that are incurred in connection with such enrollment or attendance. ‘‘(4) RETURN OF FUNDS.— ‘‘(A) REDISTRIBUTION.— ‘‘(i) IN GENERAL.—Funds held in reserve under paragraph (1) that are not used by an eligible student within six years of the student ’ s scheduled completion of secondary school may be redistributed by the eligible entity to other eligible students. ‘‘(ii) RETURN OF EXCESS TO T H E SECRETARY.—If, after meeting the requirements of paragraph (1) and, if applicable, redistributing excess funds in accordance with clause (i) of this subparagraph, an eligible entity has funds held in reserve under paragraph (1) that remain available, the eligible entity shall return such remaining reserved funds to the S ecretary for distribu- tion to other grantees under this chapter in accordance with the funding rules described in section 404B(a). ‘‘(B) N ONPARTICIPATING ENTITY.—Notwithstanding subparagraph (A), in the case of an eligible entity that does not receive assistance under this subpart for six fiscal years, the eligible entity shall return any funds held in reserve under paragraph (1) that are not awarded or obli- gated to eligible students to the Secretary for distribution to other grantees under this chapter.’’; and ( 6 ) in subsection (g)(4) (as redesignated by paragraph (2)), by striking ‘‘early intervention component required under sec- tion 404D’’ and inserting ‘‘activities required under section 404D(a)’’. (f) 21ST C ENTURY SCHOLAR CERTIFICATES.—Section 404F (20 U .S.C. 10 7 0a – 26) is amended by striking subsections (a) and (b) and inserting the following: ‘‘(a) IN G ENERAL.—An eligible entity that receives a grant under this chapter shall provide certificates, to be known as 21st Century
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