Formula Grants
/ˈfɔːrmjʊlə ɡrænts/
Definitions
- (n.) Federal funds allocated to states or localities based on a predetermined formula set by statute or regulation, without requiring a competitive application process.
The state received formula grants to support public education based on its population and poverty levels.
Forms
- formula grants
- formula grant
Related terms
See also
Commentary
Formula grants differ from project grants in that they rely on objective criteria rather than discretionary funding decisions.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.