123STA T . 1 89PUBLIC LA W 111 –5—FE B.1 7, 2 0 09 SEC.805 . GRANTSFO R IMP ACT AIDC ONSTR U CTION. (a)R ESER V A - TION FOR M ANA G EMENT AND O VERSIG H T. —Fromthefunds a p pro- pr i ated to c arr y out this section , the Secretary may reser v eup to 1 percent for mana g ement and oversight of the activities carried out w ith those funds. ( b ) CONSTRUCTION P A Y MENTS.— (1) FORMU L A GRANTS.—(A) IN GENERAL.—From 4 0 percent of the amount not reserved under subsection (a), the Secretary sha l lma k e payments in accordance with section 800 7 (a) of the E lementary and Secondary Education Act of 1 96 5( 2 0 U .S.C. 7707(a)), e x cept that the amount of such payments shall be determined in accordance with subparagraph ( B ). (B) AMOUNT OF PAYMENTS.— T he Secretary shall make a payment to each local educational agency eligible for a payment under section 8007(a) of the Elementary and Secondary Education Act of 1965 (20 U.S.C. 7707(a)) in an amount that bears the same relationship to the funds made available under subparagraph (A) as the number of children determined under subparagraphs (B), (C), and ( D )(i) of section 800 3 (a)(1) of the Elementary and Secondary Education Act of 1965 (20 U.S.C. 7703(a)(1)(B), (C), and (D)(i)) who were in average daily attendance in the local educational agency for the most recent year for which such information is available bears to the number of such children in all the local educational agencies eligible for a payment under section 8007(a) of the Elementary and Secondary Education Act of 1965 (20 U.S.C. 7707(a)). (2) COMPETITIVE GRANTS.—From 60 percent of the amount not reserved under subsection (a), the Secretary— (A) shall award emergency grants in accordance with section 8007(b) of the Elementary and Secondary Education Act of 1965 (20 U.S.C. 7707(b)) to eligible local educational agencies to enable the agencies to carry out emergency repairs of school facilities
and (B) may award moderni z ation grants in accordance with section 8007(b) of the Elementary and Secondary Edu- cation Act of 1965 (20 U.S.C. 7707(b)) to eligible local educational agencies to enable the agencies to carry out the modernization of school facilities. (3) PROVISIONS NOT TO APPLY.—Paragraphs (2), (3), (4), (5)(A)(i), and (5)(A)(vi) of section 8007(b) of the Elementary and Secondary Education Act of 1965 (20 U.S.C. 7707(b)(2), (3), (4), (5)(A)(i), and (5)(A)(vi)) shall not apply to grants made under paragraph (2). (4) ELIGI B ILITY.—A local educational agency is eligible to receive a grant under paragraph (2) if the local educational agency— (A) was eligible to receive a payment under section 8002 or 8003 of the Elementary and Secondary Education Act of 1965 (20 U.S.C. 7702 and 7703) for fiscal year 2008; and (B) has— (i) a total taxable assessed value of real property that may be taxed for school purposes of less than $ 100,000,000; or (ii) an assessed value of real property per student that may be taxed for school purposes that is less
