1. (a) The Coordinating Board shall determine and announce the amount of a scholarship not later than the final day of January prior to the start of each fiscal year. The amount shall not exceed the greater of:

   1. (1) $30,000; or
   2. (2) an amount equal to the average undergraduate cost of attendance at public institutions of higher education in this state at which one or more scholarship recipients were enrolled in the prior year.
2. (b) Notwithstanding subsection (a) of this section, a student may not receive a scholarship under this subchapter in an amount that exceeds the student's cost of attendance.
3. (c) Notwithstanding subsection (a) of this section, if the Coordinating Board determines that insufficient appropriations are available to offer scholarships to all eligible students at the amount described by subsection (a) of this section in a given fiscal year, then the Coordinating Board may instead calculate and publish a maximum scholarship amount that ensures all eligible students receive an equitable portion of available funds.

Source Note:The provisions of this §22.165 adopted to be effective November 30, 2009, 34 TexReg 8530; amended to be effective September 6, 2011, 36 TexReg 5686; transferred effective June 1, 2017, as published in the Texas Register May 19, 2017, 42 TexReg 2739; amended to be effective August 3, 2020, 45 TexReg 5341; amended to be effective May 16, 2024, 49 TexReg 3276; amended to be effective May 15, 2025, 50 TexReg 763; amended to be effective November 13, 2025, 50 TexReg 7268.