198:19 Area School Aid. –
I. As an incentive to receiving and sending districts which undertake the obligations of an area school, the state board shall, from funds appropriated by the general court to carry out the provisions of this chapter, pay annually to each receiving district sums in accordance with the following schedule: For each pupil from a sending district in average daily membership in the preceding school year; in an area elementary school, $ 45; in an area junior high school or equivalent program, $ 60; and in an area high school, $ 75.
II. As of June 30 in each year, the state board shall cause to be computed the amount of annual grants to be paid to eligible receiving districts for use as provided in area plans approved hereunder, in the succeeding fiscal year, based upon average daily membership from sending districts in the preceding fiscal year. If, in any year, the amount appropriated for distribution hereunder is insufficient therefor, the available appropriation shall be distributed proportionately among the receiving districts entitled to such grant. Any available appropriations not fully distributed in the first year of any biennium may be distributed in the second year if required to meet the formula established in paragraph I.