(a) The Program shall be administered by the Commission, in consultation with the Department, the State Department of Education, and the Administration.

(b) To carry out the purpose of the Program, the Commission shall:

(1) Develop and send to each institution of higher education in the State a description of the Program, including materials describing the purpose and goals of the Program, an application, compliance requirements, and available funding;

(2) Develop application requirements and review and approve applications; and

(3) Award grants to institutions of higher education on a competitive basis.

(c) Funding for the Program shall be as provided in the State budget.