(A) It is the intent of this section to encourage the utilization of technology for new education models at all public institutions of higher learning in this State as defined in § 59-103-5 with an accredited nursing program leading to an Associate Degree in Nursing, a Bachelor of Science in Nursing, or a Masters in Nursing degree. These new models shall utilize simulation technology and equipment to educate nurses from funds provided by the General Assembly in the Critical Needs Nursing Initiative Fund and allocated by the Commission on Higher Education for this purpose. These funds must be allocated to the institutions with an accredited nursing program by the Commission on Higher Education. The commission upon consultation with members of the Advisory Committee on Academic Programs (ACAP) from institutions with accredited nursing programs and the chairperson, or designee, of the South Carolina Council of Deans and Directors in Nursing Education shall develop guidelines as to how these funds must be allocated.

(B) In regard to the use of simulation technology and equipment in nursing education, the Commission on Higher Education shall determine and distribute funds from the Critical Needs Nursing Initiative Fund to the institutions where such funds will be used and the governing body of the institution shall determine how these funds shall be used consistent with the guidelines of this chapter.

(C) Funding for the use of simulation technology and equipment in nursing education shall be provided by the Commission on Higher Education from the Critical Needs Nursing Initiative Fund based on available funds.