(a) The coordinating board shall:
(1) administer the program;
(2) using the negotiated rulemaking procedures under Chapter 2008, Government Code, adopt rules for determining the allocation of funds under the program among eligible institutions; and
(3) adopt any other rules necessary to implement the program or this subchapter.
(b) The coordinating board shall consult with the student financial aid officers of eligible institutions in developing the rules adopted under Subsection (a).
(c) The total amount of grants awarded under the program may not exceed the amount available for the program from appropriations, gifts, grants, or other funds.
(d) In determining who should receive a grant under the program, the coordinating board and the eligible institutions shall give highest priority to awarding grants to students who demonstrate the greatest unmet financial need.
Official text of the Texas Education Code as published by the Texas Legislative Council.