[effective until December 31, 2027]
(1)Subject to the provisions of subsections (2), (3) and (4) of this section, beginning with the spring 2016 graduating class and concluding with the summer 2023 graduating class:
(a)Any student who has earned at least ten (10) postsecondary semester credits upon graduation from an accredited high school in Idaho, or its equivalent, shall be entitled to a postsecondary credit scholarship in an amount of up to two thousand dollars ($2,000) that shall be used for tuition and fees at any eligible institution.
(b)Any student who has earned at least twenty (20) postsecondary semester credits upon graduation from an accredited high school in Idaho, or its equivalent, shall be entitled to a postsecondary credit scholarship in an amount of up to four thousand
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[effective until December 31, 2027] (1) Subject to the provisions of subsections (2), (3) and (4) of this section, beginning with the spring 2016 graduating class and concluding with the summer 2023 graduating class:
(a) Any student who has earned at least ten (10) postsecondary semester credits upon graduation from an accredited high school in Idaho, or its equivalent, shall be entitled to a postsecondary credit scholarship in an amount of up to two thousand dollars ($2,000) that shall be used for tuition and fees at any eligible institution.
(b) Any student who has earned at least twenty (20) postsecondary semester credits upon graduation from an accredited high school in Idaho, or its equivalent, shall be entitled to a postsecondary credit scholarship in an amount of up to four thousand dollars ($4,000) that shall be used for tuition and fees at any eligible institution.
(c) Any student who has earned an associate degree from an accredited institution upon graduation from an accredited high school in Idaho, or its equivalent, shall be entitled to a postsecondary credit scholarship in the amount of eight thousand dollars ($8,000) that shall be used for tuition and fees at any eligible institution.
(2) For subsection (1)(a) and (b) of this section, the award amount shall be limited by the number of credits accepted by the eligible institution where the scholarship is to be applied. For subsection (1)(a) through (c) of this section, the awards shall be annual awards and one-quarter (1/4) of the scholarship amount the student is entitled to shall be distributed in each semester of full-time attendance until the total scholarship is expended or expires.
(3) In order to be eligible for a full postsecondary credit scholarship set forth in subsection (1) of this section:
(a) The student must be awarded a postsecondary matching scholarship in an amount at least equal to the postsecondary credit scholarship amount awarded in the same school year, provided that the matching funds for each scholarship must come from a business or industry, or entities representing business or industry, and may not be from appropriated or nonappropriated funds of the postsecondary institution or from a foundation affiliated with the postsecondary institution, unless the funds were donated to the postsecondary institution specifically as a match for the postsecondary credit scholarship program;
(b) The student must have graduated from an accredited high school in Idaho, or its equivalent; and
(c) Except for the first semester in which the postsecondary credit scholarship amount is distributed, in order to receive the scholarship distribution in a given semester, the student must have successfully earned at least twelve (12) credits during the immediately preceding semester in which the scholarship was distributed.
(4) Eligible students will be awarded the postsecondary credit scholarship based on grade point average rank subject to annual legislative appropriation.
(5) A student shall use the postsecondary credit scholarship within four (4) years of his or her high school graduation date, at which time the scholarship shall expire and may no longer be used.
(6) A student is entitled to only one (1) of the postsecondary credit scholarship amounts set forth in subsection (1) of this section.
(7) If a student has been awarded scholarships that pay for one hundred percent (100%) of the cost of tuition and fees, then part or all of the remaining postsecondary credit scholarship moneys may be used for room and board at the discretion of the eligible institution where the student will attend.
(8) This section shall be funded from the advanced opportunities program within the educational support program. The state department of education shall pass through to the office of the state board of education the necessary amount for distribution not to exceed one million dollars ($1,000,000) in fiscal year 2017, and not to exceed two million dollars ($2,000,000) in fiscal year 2018 through fiscal year 2024.
(9) No later than January 15 of each year, the state board of education shall report to the senate and the house of representatives education committees the number of scholarships awarded pursuant to this section during the previous school year. The report shall include the total amount of moneys distributed for the scholarships.
(10) For the purposes of this section, "eligible institution" has the same meaning as provided in section 33-4303 (2)(b), Idaho Code.
(11) Matching business or industry scholarships must be competitively awarded, must be available to all eligible students, and may not be awarded by a relative or a business owned or administered by a relative. As used in this section, "relative" shall mean any person related to the student by blood or marriage within the second degree of affinity or consanguinity.
(12) No new postsecondary credit scholarships may be awarded by the board on or after July 1, 2023.
(13) The provisions of this section shall be null, void, and of no force and effect on and after December 31, 2027.