Subject to legislative appropriations and Subsection 53F-4-514(2), and notwithstanding Subsections 53F-4-509(2) and (3), the state board shall:
(1) use funds from an appropriation for the Statewide Online Education Program to pay for an online course fee described in Section 53F-4-505 for a student who is enrolled in a public high school that enrolls fewer than 1,000 students;
(2) after the funds described in Subsection (1) have been expended, make a deduction as described in Subsection 53F-4-507(3);
(3) establish a prioritized funding distribution system that evaluates and ranks schools based on:
(a) the school's demonstrated inability to provide courses, including Advanced Placement, International Baccalaureate, or Concurrent Enrollment due to:
(i) insufficient student enrollment to justify full course sections;
(ii) geographic isolation from qualified instructors;
(iii) limited staff capacity to teach courses; or
(iv) financial constraints in hiring qualified instructors; and
(b) the school's current access to college and career readiness programming;
(4) develop an annual assessment process to:
(a) identify schools with the highest demonstrated need based on the criteria in Subsection (3); and
(b) adjust funding priorities based on program outcomes;
(5) establish reporting requirements for recipient schools to:
(a) document the use of allocated funds;
(b) track student participation in online courses;
(c) measure student achievement in funded courses; and
(d) demonstrate ongoing need for continued funding; and
(6) at the request of the Education Interim Committee, submit a report that includes:
(a) a list of schools receiving prioritized funding;
(b) the basis for funding prioritization;
(c) student participation and achievement data; and
(d) recommendations for program improvement.