(a) Beginning with the 2024-2025 academic year, the amount of a scholarship under this subchapter is equal to the amount of the scholarship for the preceding academic year, adjusted for inflation using the college tuition and fees index component of the consumer price index produced by the United States Bureau of Labor Statistics.
(a-1) For the 2023-2024 academic year, the amount of a scholarship under this subchapter is $12,000. This subsection expires September 1, 2024.

(b) The amount of a scholarship under this subchapter may not be reduced by any other scholarship, grant, or financial aid which the scholarship recipient receives.
(c) Not later than January 31 of each year, the coordinating board shall publish the amounts of each scholarship established by the board for the academic year beginning the next fall semester.