1. (a) The annual scholarship award shall be:

   1. (1) At a public senior higher education institution in the State that has a department, school, or college of education, 100% of the equivalent annual tuition, mandatory fees, and room and board of a resident undergraduate student or graduate student, as appropriate, at the public senior higher education institution; or

   2. (2) Subject to subsection (b) of this section, at a private nonprofit institution of higher education in the State that has a department, school, or college of education, an amount equal to:

      1. (i) The lesser of:

         1. 1. 100% of the equivalent annual tuition and mandatory fees of a resident undergraduate student or graduate student, as appropriate, at the University of Maryland, College Park Campus; or
         2. 2. 50% of the equivalent annual tuition and mandatory fees of a resident undergraduate or graduate student, as appropriate, at the eligible private nonprofit institution of higher education; and
      2. (ii) 100% of the room and board of a resident undergraduate student or graduate student, as appropriate, at the eligible private nonprofit institution of higher education in the State.
2. (b) A private nonprofit institution of higher education shall provide a matching scholarship award in an amount equal to the award calculated in subsection (a)(2)(i) of this section.

Added by Acts 1999, c. 704, § 1, eff. July 1, 1999; Acts 1999, c. 705, § 1, eff. July 1, 1999. Amended by Acts 2000, c. 490, § 1, eff. Oct. 1, 2000; Acts 2001, c. 105, § 1, eff. July 1, 2001; Acts 2002, c. 410, § 1, eff. June 1, 2002; Acts 2014, c. 542, § 1, eff. July 1, 2014; Acts 2014, c. 543, § 1, eff. July 1, 2014; Acts 2016, c. 25, § 2, eff. Oct. 1, 2016; Acts 2018, c. 361, § 1, eff. June 1, 2018; Acts 2023, c. 627, § 1, eff. July 1, 2023.