"The conference allocates a specified amount for teams in a BCS bowl ($1.7 million for the Orange Bowl) for expenses, while teams heading to non-BCS games receive $1.1 million in expenses. The conference pools together the bowl payouts from its teams and deducts the expenses described above. The remaining money is then divvied up evenly into 12 slices for the league's schools."
Patrick Stevens over at D1scourse breaks down the ACC's bowl payouts so I don't have to. According to my math (using payout amounts available on the Series of Tubes), each team stands to get ~$1.64 million in addition to the amount they get for bowl expenses.
