(1) To be eligible for an ASPIRE award, a student shall: Be eligible for a Tennessee HOPE scholarship; and
(2) Have an adjusted gross income attributable to the student that does not exceed thirty-six thousand dollars ($36,000).
(3) The student shall receive the Tennessee HOPE scholarship award under § 49-4-914 and an ASPIRE award. Subject to the amounts appropriated by the general assembly, and any law relating to a shortfall in funds available for postsecondary financial assistance from the net proceeds of the state lottery, the ASPIRE award for full-time students shall be determined in accordance with § 4-51-111 and shall be set in the general appropriations act. Both the Tennessee HOPE scholarship and the ASPIRE award are subject to the amounts appropriated by the general assembly and any law relating to a shortfall in funds available for postsecondary financial assistance from the net proceeds of the state lottery.
(4) The adjusted gross income attributable to the student shall be reviewed each academic year to determine continuing eligibility for the ASPIRE award.