(a) In this section:
(1) "Medical school" has the meaning assigned by Section 61.501(1), except that the term also includes the school of osteopathic medicine at the University of the Incarnate Word.
(2) "Pediatric subspecialty" means a pediatric medical subspecialty certification offered by a member board of the American Board of Medical Specialties or American Osteopathic Association.
(b) The Texas Higher Education Coordinating Board may contract with one or more organizations to operate a statewide pediatric subspecialty preceptorship program for medical students enrolled in Texas medical schools.
(c) An organization eligible to receive funds under this section must:
(1) qualify for exemption from federal income tax under Section 501, Internal Revenue Code of 1986 (26 U.S.C. Section 501); or
(2) be operated by a state accredited medical school.
(d) Students eligible to participate in the preceptorship program under this section must indicate an interest in a career in a pediatric subspecialty.