(a) The Texas Leadership Scholars Program is established to serve as a merit-based scholarship and leadership opportunity program for high-achieving, emerging leaders with financial need.
(b) Using money appropriated or otherwise available for the purpose, the board shall award scholarships and provide academic achievement support and leadership development to eligible students under the program.

(c) The board shall administer the program. The board may contract with one or more institutions of higher education to assist in administering the program, including receiving and reviewing applications, recommending the distribution of funds to institutions of higher education, and developing criteria for the selection of students for the program.
(d) The board may establish one or more advisory committees for the purpose of recommending rules for the administration of the program.