Section 25-2510.3 - Assistance to School Districts Declared to be in Financial Recovery Status or Identified for Financial Watch Status(a) The following apply:(1) For the 2013-2014 and 2016-2017 fiscal years, the Department of Education may utilize up to four million five hundred thousand dollars ($4,500,000) of undistributed funds not expended, encumbered or committed from appropriations for grants and subsidies made to the Department of Education to assist school districts declared to be in financial recovery status under section 621-A or identified for financial watch status under section 611-A. The funds shall be transferred by the Secretary of the Budget to a restricted account as necessary to make payments under this section and, when transferred, are hereby appropriated to carry out the provisions of this section.(2) For the 2017-2018, 2018-2019, 2019-2020, 2020-2021, 2021-2022 and 2022-2023 fiscal years, the Department of Education may utilize up to seven million dollars ($7,000,000) of undistributed funds not expended, encumbered or committed from appropriations for grants, subsidies and assessments made to the Department of Education to assist school districts declared to be in financial recovery status under section 621-A, identified for financial watch status under section 611-A or identified for financial watch status under section 694-A; except that the funds must be first utilized to accomplish the provisions contained in section 695-A. The funds shall be transferred by the Secretary of the Budget to a restricted account as necessary to make payments under this section and, when transferred, are hereby appropriated to carry out the provisions of this section.(b) For the 2013-2014 fiscal year, the amount of seven million five hundred thousand dollars ($7,500,000) of undistributed funds not expended, encumbered or committed from appropriations for grants and subsidies made to the Department of Education shall be transferred to the Financial Recovery School District Transitional Loan Account to make loans as provided under section 681-A.Amended by P.L. TBD 2022 No. 55, § 58, eff. 7/8/2022.Amended by P.L.1582021No. 26, § 10, eff.6/30/2021.Amended by P.L. TBD 2020 No. 30, § 21, eff. 6/5/2020.Amended by P.L. TBD 2019 No. 16, § 21, eff. 7/1/2019.Amended by P.L. TBD 2018 No. 39, § 18, eff. 7/1/2018.Amended by P.L. TBD 2017 No. 55, § 19, eff. 11/6/2017.Amended by P.L. 716 2016 No. 86, § 17, eff. 7/13/2016.Added by P.L. 408 2013 No. 59, § 12, eff. 7/9/2013.