(ii) <<NOTE: Deadline.>> State plan.--The State educational agency shall develop, not later than 90 days after the State reserves funds under this paragraph, annually review, and amend as necessary, a State plan for the high cost fund. Such State plan shall--
(I) establish, in coordination with representatives from local educational agencies, a definition of a high need child with a disability that, at a minimum--
(aa) addresses the financial impact a high need child with a disability has on the budget of the child's local educational agency; and
(bb) ensures that the cost of the high need child with a disability is greater than 3 times the average per pupil expenditure (as defined in section 9101 of the Elementary and Secondary Education Act of 1965) in that State;
(II) establish eligibility criteria for the participation of a local educational agency that, at a minimum, takes into account the number and percentage of high need children with disabilities served by a local educational agency;
(III) develop a funding mechanism that provides distributions each fiscal year to local educational agencies that meet the criteria developed by the State under subclause (II); and
(IV) establish an annual schedule by which the State educational agency shall make its distributions from the high cost fund each fiscal year.