(A) As used in this section, "economically disadvantaged funds" means the following:

1. (1) For a city, local, or exempted village school district, the funds received under division (A)(5) of section 3317.022 of the Revised Code;
2. (2) For a joint vocational school district, the funds received under division (A)(3) of section 3317.16 of the Revised Code;
3. (3) For a community school established under Chapter 3314. of the Revised Code, the funds received under division (C)(1)(e) of section 3314.08 of the Revised Code;
4. (4) For a STEM school established under Chapter 3326. of the Revised Code, the funds received under division (E) of section 3326.33 of the Revised Code.

(B) In any fiscal year, a city, local, exempted village, or joint vocational school district, community school, or STEM school shall spend the economically disadvantaged funds it receives for any of the following initiatives or a combination of any of the following initiatives:

1. (1) Extended school day and school year;
2. (2) Reading improvement and intervention;
3. (3) Instructional technology or blended learning;
4. (4) Professional development in reading instruction for teachers of students in kindergarten through third grade;
5. (5) Dropout prevention;
6. (6) School safety and security measures;
7. (7) Community learning centers that address barriers to learning;
8. (8) Academic interventions for students in any of grades six through twelve.