The council on postsecondary education shall have the following powers and duties:

(1)  To prepare with the assistance of the commissioner of postsecondary education and to present annually to the state budget officer in accordance with § 35-3-4, as part of the state higher education budget, a line-item budget request specifically designated as the state’s share of support for the college crusade of Rhode Island. The budget shall be designated as a specific, line-item budget request and shall be presented as part of the budget of the postsecondary commissioner.

(2)  To provide, through its office of the postsecondary commissioner, the authority to designate the college crusade of Rhode Island, a 501(c)(3) nonprofit organization registered with the Rhode Island secretary of state, as the entity that will administer and operate all program services and manage scholarship resources.