(a) Duration of awards
A grant under this part shall be awarded for a period that shall not exceed three fiscal years.
(b) Limitation on planning funds
A local educational agency may expend for planning not more than 50 percent of the funds received under this part for the first year of the project, 15 percent of such funds for the second such year, and 10 percent of such funds for the third such year.
No local educational agency or consortium awarded a grant under this part shall receive more than $4,000,000 under this part in any one fiscal year.
To the extent practicable, the Secretary shall award grants for any fiscal year under this part not later than June 1 of the applicable fiscal year.
(Pub. L. 89-10, title V, Sec. 5110, as added Pub. L. 103-382, title I, Sec. 101, Oct. 20, 1994, 108 Stat. 3694.)