(1) Licensed math and science teachers who are currently teaching science, technology, engineering, and math subjects in kindergarten through grade twelve (K-12) may apply to the Arkansas Economic Development Commission for a supplemental grant from the Science, Technology, Engineering, and Math Fund for that portion of the day in which they are teaching science, technology, engineering, or math subjects or laboratories.
(2) Selection and identification of qualified science, technology, engineering, and math teachers shall be coordinated with the Division of Elementary and Secondary Education for identification of qualified science, technology, engineering, and math teachers.
(3) Applications for supplemental grants from the Science, Technology, Engineering, and Math Fund shall be made to the commission by February 1 and September 1 of each year.
(4) The application shall be made on forms prepared by the commission.
(5) The application shall be accompanied by a letter of certification, on a form to be provided by the commission, from the principal of the school in which the science, technology, engineering, or math teacher is employed.
(6) The commission shall review the applications in accordance with rules promulgated by the commission in coordination with the division to determine if the applicant qualifies for a supplemental grant from the fund.
(7) After determining eligibility for a supplemental grant from the Science, Technology, Engineering, and Math Fund, the commission shall notify, in writing, the applicant of the decision of eligibility.