§ 1909. State aid. 1. Public moneys shall be apportioned to such central high school district on account of the central high school maintained therein, in the same amount and under the same conditions as in the case of apportionments to union free school districts on account of secondary instruction given in the public schools of such districts, under the provisions of this chapter. There shall be apportioned to such central high school district the amounts allowed by section two thousand forty-five of this chapter for the instruction of non-resident academic pupils, on account of pupils attending the high school in such central high school district from a district or districts included in such central high school district not maintaining an academic department at the time of the establishment of such district.

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2. Any state aid representing tax savings duly provided by a component school district of the central high school district pursuant to § 1306-a of the real property tax law for taxes levied to fund expenditures of the central high school district shall be claimed by such component school district pursuant to subdivision three of § 1306-a of the real property tax law, and any resulting payment of state aid to the component school district based on such tax savings shall be paid by the component school district, within ten days after receipt of such payment, over to the treasurer of such central high school district in an amount equal to the product of the total payment received by such component school district for all tax savings provided pursuant to § 1306-a of the real property tax law multiplied by the quotient of the tax savings provided for taxes levied to fund expenditures of the central high school district divided by the total tax savings duly provided by such component school district pursuant to § 1306-a of the real property law.