(a) If the money available for TEXAS grants in a period for which grants are awarded is sufficient to provide grants to all eligible applicants in amounts specified by § 56.307, the coordinating board may use any excess money available for TEXAS grants to award a grant in an amount not more than three times the amount that may be awarded under § 56.307 to a student who:
(1) is enrolled in a program that fulfills the educational requirements for licensure or certification by the state in a health care profession that the coordinating board, in consultation with the Texas Workforce Commission and the statewide health coordinating council, has identified as having a critical shortage in the number of license holders needed in this state;
(2) has completed at least one-half of the work toward a degree or certificate that fulfills the educational requirement for licensure or certification; and
(3) meets all the requirements to receive a grant award under § 56.307.
(b) In awarding a grant under Subsection (a), the coordinating board may:
(1) give priority to students from a group underrepresented in the programs preparing students for licensure or certification by the state; and
(2) award different amounts based on the amount of course work a student has completed toward earning the degree required for licensure or certification.