The Bankhead–Jones Act was enacted on June 29, 1935 during the Depression, to provide increased federal funding to land grant colleges. Under the law as was last increased in 1972, $8,100,000 per year is divided equally between all states, and another $4,360,000 is divided between the states based upon each state's population.7 U.S.C. §427 These federal funds are subject to matching by the states.
References
External links Text of statute