(a) In consultation with the advisory committee established under § 130.001(b)(5), the Texas Higher Education Coordinating Board by rule shall adopt a payment schedule by which money appropriated to junior college districts under this chapter and Chapter 130A is distributed to those districts.
(b) The Texas Higher Education Coordinating Board may modify the amount of any installment required under the payment schedule adopted under Subsection (a) to, in accordance with this chapter, Chapter 130A, the General Appropriations Act, or coordinating board rule:
(1) provide the junior college district with the proper amount to which the junior college district may be entitled by law; and
(2) correct errors in the allocation or distribution of funds.

(c) If the amount of an installment under the payment schedule adopted under Subsection (a) is required to be equal to the amount of another installment, the amount of the other installment may be adjusted to provide for that equality. A payment under this section is not invalid because it is not equal to other installments.