(a)
The Secretary may waive the maintenance of effort requirement in § 403.182 for a State for one year only if—
(1)
The Secretary determines that a waiver would be equitable due to exceptional or uncontrollable circumstances affecting the State's ability to maintain fiscal effort; and
(2)
The State has decreased its expenditures for vocational education from non-Federal sources by no more than five percent.
(b)
For purposes of this section, “exceptional or uncontrollable circumstances” include, but are not limited to, the following:
(2)
An unforeseen and precipitous decline in financial resources.
(c)
The Secretary does not consider tax initiatives or referenda to be exceptional or uncontrollable circumstances.
Code of Federal Regulations
(Authority:
20 U.S.C. 2463(b)
)