(1) A public school student who is enrolled in a public school in Arkansas and who has successfully completed the eighth grade shall be eligible to enroll in a publicly supported community college or four-year college or university in accordance with rules adopted by each institution in consultation with the Arkansas Higher Education Coordinating Board.
(2) A student who enrolls in and successfully completes a course or courses offered by an institution of higher education shall be entitled to receive appropriate academic credit in both the institution of higher education and the public school in which such student is enrolled, which credit shall be applicable to graduation requirements.
(3) The State Board of Education is authorized to adopt rules as may be necessary for implementation of this requirement.