Section 20-41-9 - Allocation formula(a) Distribution to participating eligible institutions of the original allocation of federal state student incentive grant program funds for each academic year shall be made in accordance with the following formula:(1) For each participating eligible institution, obtain ten percent of the full-time undergraduate enrollment for each undergraduate level (freshmen through seniors) as of October 15 of the previous fall semester or its equivalent.(2) Multiply the number obtained for each undergraduate level by the appropriate full-time tuition charge for each level then sum the results. This total shall be called the institutional total.(3) Sum the institutional totals for all participating eligible institutions. This amount shall be called the aggregate state total.(4) Determine what percentage each institutional total is of the aggregate state total.(5) Apply the percentage of each participating eligible institution to the federal state student incentive grant funds available to the State, and this dollar amount shall be the amount available to each participating eligible institution.(b) Additional federal funds, original federal allocations not used by participating eligible institutions, or funds received from other sources shall be reallocated to participating eligible institutions able to meet the requirements for additional matching and having an eligible applicant not yet a recipient of a full-time grant. The reallocation shall be affected by the same formulas used in making the original allocation, except that the percentage shall be adjusted to exclude eligible institutions no longer able or choosing not to participate.[Eff. JUN 22 1981] (Auth: HRS § 305H-2) (Imp: HRS § 305H-2)