(a) The program shall be used to provide a loan repayment for federal student loans in the following amounts:

(1) Five thousand dollars ($5,000) per year, or two thousand five hundred dollars ($2,500) per semester worked, for a maximum of four consecutive years for a teacher with a valid Alabama professional educator certificate endorsed in secondary math or science who graduated from a teacher education program at an approved institution after the 2018 spring semester term and is teaching in an Alabama public school.

(2) An additional two thousand five hundred dollars ($2,500) per year, or one thousand two hundred fifty dollars ($1,250) per semester worked, for a maximum of four consecutive years for a teacher who satisfies all criteria listed in Section 16-5-54 and who also is teaching math or science in a public school in an area of the state with acute teacher shortages in math or science, or both, in a geographic area within the state with an acute teacher shortage in math or science, or both, as identified by the commission in consultation with the State Department of Education.

(b) Loan repayment award recipients shall reapply for the program annually.

(c) Loan repayment awards shall be distributed directly to the recipient teacher in two disbursements during the applicable year: One disbursement after January 1 and the second disbursement after June 1. Each recipient shall provide documentation from the employing school district as proof that he or she has taught for a semester. If the award amount is larger than the outstanding loan balance, the award amount shall be reduced to the amount of the loan balance.

(d) The requirements of this article are contingent upon available funding for the program.

(e) The commission shall determine the necessary procedures for awarding loan repayments if the number of eligible applicants and recipients exceeds available funding.

(f) The recipient shall notify the commission in writing of any change in status within 30 days after the change. Failure to notify the commission of a change in status shall affect future eligibility. All of the following constitute a change in status:

(1) A change in name.

(2) A change in residence.

(3) A change in employment status.

(g) To receive a loan repayment check pursuant to this article, a teacher shall register online with the state comptroller.

(h) A loan repayment check is considered income by the Internal Revenue Service, and recipients shall be made aware of that fact.

(i) Any funds appropriated to the program shall be nonreverting.

(j) Additional funds shall be made available to teachers who also teach math or science in areas of the state where the shortages of math or science teachers, or both, is most severe. The commission, in consultation with the State Department of Education, shall determine which school systems in the state have the greatest shortage areas.