The competition next year (2017) will be held the morning of the first Saturday in March 2017 which is March 4th. The rules are explained here on the website. The prizes range from $50 for third place in the grade one and two division up to $250 for first place in the junior and senior high school level.
The only other change is that for young students who select something from “More Than Slightly Weird”, only one piece is required. (Two were required in previous years!)