Revenue Derived from Local Sources [Education] Law and Legal Definition

Pursuant to 20 USCS § 7713 (12) [Title 20. Education; Chapter 70. Strengthening and Improvement of Elementary and Secondary Schools; Impact Aid], the term revenue derived from local sources means—

“(A) revenue produced within the boundaries of a local educational agency and available to such agency for such agency's use; or

(B) funds collected by another governmental unit, but distributed back to a local educational agency in the same proportion as such funds were collected as a local revenue source.”