Section 18-309 - Payment of Award; schedule of reductions; retention of unused grants.
§ 18-309. Payment of Award; schedule of reductions; retention of unused grants.
(a) Payment of Award; schedule of reductions.- For any fiscal year, if the funds appropriated for the Delegate Howard P. Rawlings Educational Excellence Award Program are insufficient to satisfy fully all awards as calculated under § 18-304 of this subtitle, the amount paid to each recipient of a Delegate Howard P. Rawlings Educational Excellence Award shall be a percentage of that award, as determined in accordance with regulations adopted by the Commission that establish a schedule of reductions for this purpose.
(b) Retention of unused grants.-
(1) Delegate Howard P. Rawlings Educational Excellence Award grants calculated under § 18-304 of this subtitle that are not used by the recipients shall be retained by the Commission for use in the Delegate Howard P. Rawlings Educational Excellence Award Program for the next fiscal year.
(2) All funds retained in the Delegate Howard P. Rawlings Educational Excellence Award Program as provided in paragraph (1) of this subsection shall be used to award scholarships to students during subsequent fiscal years as provided by this title and may not be used for administrative expenses.
[1991, ch. 462, § 3; 1996, ch. 10, § 16; 1999, ch. 606; 2007, ch. 491, § 2.]