(1) The Arkansas Economic Development Commission shall make available forms upon which a business eligible for a grant under § 15-3-403 may apply for a grant to support the hiring of postdoctoral science and engineering graduates to work in areas of their expertise in Arkansas.
(2) Within thirty (30) days of the receipt of an application, the commission shall notify the applicant whether: The applicant meets the criteria for benefits; and
(3) Funds are available to assist the business in the hiring of postdoctoral science and engineering graduates.