(1) This section only applies to a student who graduates from high school on or before July 1, 2018.

(2) The Regents' Scholarship Program is created to award merit scholarships to students who complete a rigorous core course of study in high school.

(3) (a) A student who is awarded the Base Regents' scholarship established in Section 53B-8-203 may also be awarded each of the supplemental awards established in Sections 53B-8-204 and 53B-8-205. (b) A student may not receive both a Regents' scholarship and a New Century scholarship established in Section 53B-8-105.

(a) A student who is awarded the Base Regents' scholarship established in Section 53B-8-203 may also be awarded each of the supplemental awards established in Sections 53B-8-204 and 53B-8-205.

(b) A student may not receive both a Regents' scholarship and a New Century scholarship established in Section 53B-8-105.

(4) A Regents' scholarship may only be used at a: (a) credit-granting higher education institution within the state system of higher education; or (b) private, nonprofit college or university in the state that is accredited by the Northwest Commission on Colleges and Universities.

(a) credit-granting higher education institution within the state system of higher education; or

(b) private, nonprofit college or university in the state that is accredited by the Northwest Commission on Colleges and Universities.

(5) (a) A scholarship holder shall enroll full-time at a higher education institution described in Subsection (4) by no later than the fall term immediately following the student's high school graduation date or receive an approved deferral from the board. (b) The board may grant a deferral or leave of absence to a scholarship holder, but the student may only receive scholarship money within five years of the student's high school graduation date.

(a) A scholarship holder shall enroll full-time at a higher education institution described in Subsection (4) by no later than the fall term immediately following the student's high school graduation date or receive an approved deferral from the board.

(b) The board may grant a deferral or leave of absence to a scholarship holder, but the student may only receive scholarship money within five years of the student's high school graduation date.

(6) (a) The board shall annually report on the Regents' Scholarship Program at the beginning of each school year to the Higher Education Appropriations Subcommittee. (b) The board shall ensure that the report includes the number of students in each school district and public high school who meet the academic criteria for the Base Regents' scholarship and for the Exemplary Academic Achievement Scholarship. (c) The State Board of Education, school districts, and public high schools shall cooperate with the board to facilitate the collection and distribution of Regents' Scholarship Program data.

(a) The board shall annually report on the Regents' Scholarship Program at the beginning of each school year to the Higher Education Appropriations Subcommittee.

(b) The board shall ensure that the report includes the number of students in each school district and public high school who meet the academic criteria for the Base Regents' scholarship and for the Exemplary Academic Achievement Scholarship.

(c) The State Board of Education, school districts, and public high schools shall cooperate with the board to facilitate the collection and distribution of Regents' Scholarship Program data.

(7) The State Board of Education shall annually provide the board a complete list of directory information, including student name and address, for all grade 8 students in the state.

(8) The board shall adopt policies establishing: (a) the high school and college course requirements described in Subsection 53B-8-203(2)(d)(i); (b) the additional weights assigned to grades earned in certain courses described in Subsections 53B-8-203(5) and 53B-8-205(8); (c) the regional accrediting bodies that may accredit a private high school described in Subsection 53B-8-203(2)(a)(ii); (d) (i) the application process and an appeal process for a Regents' scholarship, including procedures to allow a student to apply for the scholarship on-line; and (ii) a disclosure on all applications and related materials that the amount of the awards is subject to funding and may be reduced, in accordance with Subsection (9)(b); and (e) how college credits correlate to high school units for purposes of Subsection 53B-8-203(2)(d)(i).

(a) the high school and college course requirements described in Subsection 53B-8-203(2)(d)(i);

(b) the additional weights assigned to grades earned in certain courses described in Subsections 53B-8-203(5) and 53B-8-205(8);

(c) the regional accrediting bodies that may accredit a private high school described in Subsection 53B-8-203(2)(a)(ii);

(d) (i) the application process and an appeal process for a Regents' scholarship, including procedures to allow a student to apply for the scholarship on-line; and (ii) a disclosure on all applications and related materials that the amount of the awards is subject to funding and may be reduced, in accordance with Subsection (9)(b); and

(i) the application process and an appeal process for a Regents' scholarship, including procedures to allow a student to apply for the scholarship on-line; and

(ii) a disclosure on all applications and related materials that the amount of the awards is subject to funding and may be reduced, in accordance with Subsection (9)(b); and

(e) how college credits correlate to high school units for purposes of Subsection 53B-8-203(2)(d)(i).

(9) (a) Subject to future budget constraints, the Legislature shall make an annual appropriation from the Education Fund to the board for the costs associated with the Regents' Scholarship Program authorized under this section and Sections 53B-8-203, 53B-8-204, and 53B-8-205. (b) Notwithstanding the provisions of this section and Sections 53B-8-203, 53B-8-204, and 53B-8-205, if the appropriation under Subsection (9)(a) is insufficient to cover the costs associated with the Regents' Scholarship Program, the board may reduce the amount of the Base Regents' scholarships and supplemental awards.

(a) Subject to future budget constraints, the Legislature shall make an annual appropriation from the Education Fund to the board for the costs associated with the Regents' Scholarship Program authorized under this section and Sections 53B-8-203, 53B-8-204, and 53B-8-205.

(b) Notwithstanding the provisions of this section and Sections 53B-8-203, 53B-8-204, and 53B-8-205, if the appropriation under Subsection (9)(a) is insufficient to cover the costs associated with the Regents' Scholarship Program, the board may reduce the amount of the Base Regents' scholarships and supplemental awards.

(10) The board may set deadlines for receiving Regents' scholarship applications and supporting documentation.