Maryland Education Section 18-309

      (a)      For any fiscal year, if the funds appropriated for the 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 an 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)      (1)      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 Educational Excellence Award Program for the next fiscal year.

            (2)      All funds retained in the 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.