(1) May be used to reimburse a technology-based business or a unit of State or local government up to 50% of a stipend paid to an intern, but not more than:

(i) $1,800 for the first semester; and

(ii) $1,200 for the second semester; and

(2) May total not more than $3,000 each year for each intern.

(b) The maximum reimbursement amounts established in subsection (a) of this section may be increased in accordance with changes in employment market conditions as jointly determined by UMBC and the Department of Commerce.

(c) At least 50% of the internships supported by the Program each year shall be with businesses that have not more than 150 employees.