(1) From the state school aid fund money appropriated in section 11, there is allocated $4,500,000.00 for 2024-2025 only to Menominee Area Public Schools to cover the cost of an emergency water and asbestos event, cost inflation for unfinished bond work delayed due to asbestos cleanup, and costs related to consolidation activities.

    (2) If, by June 20, 2035, Menominee Area Public Schools receives reimbursement from the settlement of a court case addressing the nonfulfillment of contracted duties regarding an emergency water and asbestos event, Menominee Area Public Schools, not later than 90 days following the receipt of that court settlement amount, must reimburse the department in the amount it received from that settlement, or the full amount received under this section, whichever is less. The department shall determine the mode of payment for the reimbursement.

    (3) The funds allocated under this section for 2024-2025 are a work project appropriation, and any unexpended funds for 2024-2025 are carried forward into 2025-2026. The purpose of the work project is to continue to cover the cost of an emergency water and asbestos event, cost inflation for unfinished bond work delayed due to asbestos cleanup, and costs related to consolidation activities. The estimated completion date of the work project is September 30, 2026.

    (4) Notwithstanding section 18a, funds allocated under subsection (1) may be available for expenditure until September 30, 2027. The recipient of funding under subsection (1) must return any unexpended funds to the department in the manner prescribed by the department not later than October 30, 2027.

    (5) Notwithstanding section 17b, the department shall make payments under this section on a schedule determined by the department.