(1)

(A) "Child living in a foster home" means a school-age child in this state who is in the custody of the Department of Human Services and placed in a licensed or approved foster home, shelter, or facility, or an exempt child welfare agency as defined under § 9-28-402.

(B) "Child living in a foster home" does not include a school-age child living in any unit of the human development centers operated by the Department of Human Services or its successor;

(2) "Child with disabilities" or "student with disabilities" means a person eligible to attend the public schools in this state who is identified as disabled in accordance with regulations promulgated by the State Board of Education under the Children With Disabilities Act of 1973, § 6-41-201 et seq.;

(3) "Federal funds" means any federal funds received by the school district that are of a category or nature that would have benefited a child with disabilities or a child living in a foster home, as defined in this subchapter, if the child had attended the school district during the school year or the portion of the school year but who instead attended another school district in this state which makes application for funds to be used in behalf of the education of the child, as provided in this subchapter;

(4) "Local operating funds" means any local operating funds derived from property taxes for the school year, including any surplus funds received from millage pledged for indebtedness purposes but which are not necessary to meet debt service requirements and are transferred to the operating account of the school district for the year;

(5) "Receiving district" means a school district in this state in which a child attends or seeks to attend school other than the school district of residence of the child;

(6) "Sending district" means the school district that is defined by laws or regulations as being the school district of residence of the school-age child; and

(7) "State funds" means any state funds received by the school district under the Public School Funding Act of 2003, § 6-20-2301 et seq., the Arkansas Public School Academic Facilities Funding Act, § 6-20-2501 et seq., or other state special education funds.