(a) The Governor's Medal of Service award may be awarded to a resident of this state who:
(1) honorably retired from a position of public service in state or local government;
(2) contributed to the residents of this state in an extraordinary way through the individual's work in the private sector; or
(3) contributed to the residents of this state in an extraordinary way as a member of the Texas Legislature.
(b) The governor may, at the governor's discretion, award not more than two Governor's Medal of Service awards each year.