According to 34 CFR 222.2 [Title 34 – Education; Subtitle B -- Regulations of the Offices of the Department of Education; Chapter II -- Office of Elementary and Secondary Education, Department of Education; Part 222 -- Impact Aid Programs; Subpart A – General], revenues derived from local sources:
“(1) the term means --
(i) Tax funds derived from real estate; and
(ii) Other taxes or receipts that are received from the county, and any other local tax or miscellaneous receipts.
(2) (i) For the purpose of paragraph (1)(i) of this definition, the term "tax funds derived from real estate" means --
(A) Locally received funds that are derived from local taxation of real property;
(B) Tax funds that are received on account of Wherry-Spence housing projects (12 U.S.C. 1702 et seq.) located on private property; and
(C) All local real property tax funds that are received from either the county or the State, serving as a collecting agency, and that are returned to the LEA for expenditure by that agency.
(ii) The term does not include --
(A) Any payments under this Act or the Johnson-O'Malley Act (25 U.S.C. 452);
(B) Tax payments that are received on account of Wherry-Spence housing projects located on federally owned property; or
(C) Local real property tax funds that are received by the State and distributed to LEAs on a per-pupil or formula basis.”
(Authority: 20 U.S.C. 7713(11))