Of the funds distributed pursuant to the higher education formula of the Commission on Higher Education, the Felton-Laboratory School at South Carolina State University shall receive each year one hundred percent of the funds it would have received for that year under the Education Finance Act, under the Education Improvement Act, and under aid to school districts-fringe benefits, as if it were a special school district. The calculation of the amount of funds which the Felton-Laboratory School is entitled to receive each year shall be made by the Department of Education.