(a)(1) In this section the following words have the meanings indicated.
(2)“Fund” means the Higher Education Investment Fund established in § 15–106.6 of this article.
(3)“Grant” means the DeSousa–Brent Scholars Completion Grant.
(b)There is a DeSousa–Brent Scholars Completion Grant to St. Mary’s College of Maryland.
(c)The purpose of the Grant is to increase the retention and graduation rates of DeSousa–Brent scholars at St. Mary’s College of Maryland.
(d)For fiscal years 2014 through 2019, the Governor shall appropriate the following grant amounts from the Fund to St. Mary’s College of Maryland:
(1)$300,000 in fiscal year 2014;
(2)$550,000 in fiscal year 2015; and
(3)$800,000 in each of fis
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(a) (1) In this section the following words have the meanings indicated.
(2) “Fund” means the Higher Education Investment Fund established in § 15–106.6 of this article.
(3) “Grant” means the DeSousa–Brent Scholars Completion Grant.
(b) There is a DeSousa–Brent Scholars Completion Grant to St. Mary’s College of Maryland.
(c) The purpose of the Grant is to increase the retention and graduation rates of DeSousa–Brent scholars at St. Mary’s College of Maryland.
(d) For fiscal years 2014 through 2019, the Governor shall appropriate the following grant amounts from the Fund to St. Mary’s College of Maryland:
(1) $300,000 in fiscal year 2014;
(2) $550,000 in fiscal year 2015; and
(3) $800,000 in each of fiscal years 2016 through 2019.
(e) For fiscal years 2015 through 2020, except as provided in subsection (f) of this section, the prior fiscal year’s appropriation from the Fund made under this section may not be included in the calculation under § 14–405 of this subtitle.
(f) The fiscal year 2019 appropriation from the Fund shall be included in the calculation under § 14–405 of this subtitle for the fiscal year 2020 General Fund grant appropriation if:
(1) The first– to second–year retention rate for the fall 2015 cohort of the DeSousa–Brent scholars is at least 88%;
(2) The first– to third–year retention rate for the fall 2015 cohort of the DeSousa–Brent scholars is at least 79%; and
(3) The four–year graduation rate for the fall 2015 cohort of the DeSousa–Brent scholars is at least 70%.
(g) On or before December 1 of each year St. Mary’s College of Maryland shall report to the Governor and, in accordance with § 2–1257 of the State Government Article, the General Assembly the retention and graduation rates of DeSousa–Brent scholars.