(a) Each governing board shall promulgate a rule establishing a reduced tuition and fee program for senior citizens. The rule shall include at least the following:

1. (1) One option for individuals who attend undergraduate and graduate courses without receiving credit and one option for those who attend undergraduate and graduate courses for credit;

2. (2) A requirement that the following conditions be met under either option of the program:

   1. (A) The participant is a resident of West Virginia or classified as a metro area student at the institution;
   2. (B) The participant is 60 years of age or older; and
   3. (C) Classroom space is available;
3. (3) A method of establishing priority for allowing a participant to attend a class or course;
4. (4) A determination of whether to require participants to pay special fees, including laboratory fees, if the fees are required of all other students;
5. (5) A determination of whether to require participants to pay for parking;

6. (6) Requirements for participants in the program under the no credit option:

   1. (A) A grade or credit may not be given; and
   2. (B) The total tuition and fees charged for each course or class, excluding laboratory and parking fees, may not exceed $50. After July 1, 2004, the governing boards may change the maximum fee; and
   3. (C) Any differential tuition for qualified nonresident students shall not exceed 50 percent of the rate for West Virginia resident students;
7. (7) A requirement for participants in the program under the for-credit option that tuition and fee rates may not exceed 50 percent of the normal rates charged to state residents by the institution.