(1) From the state school aid fund money appropriated in section 11, there is allocated for 2024-2025 only an amount not to exceed $57,000,000.00 for payments to public school academies in an amount per pupil equal to 3.9% of the public school academy's foundation allowance under section 20. It is the intent of the legislature that payments under this section be used to support student mental health, school safety, educator workforce, and academic interventions.

    (2) To be eligible for funding under this section, a public school academy must not be a participating entity of the Michigan public school employees' retirement system under the public school employees retirement act of 1979, 1980 PA 300, MCL 38.1301 to 38.1437. As used in this subsection, "participating entity" means that term as defined in section 147c.