(1) (a) Following adoption by the state board, pursuant to section 22-7-1009, of the criteria for endorsing a diploma as reflecting postsecondary and workforce readiness, a local school board, a BOCES, or an institute charter high school may choose to grant a postsecondary and workforce readiness endorsement to each graduating high school student who meets the criteria.

(b) Following adoption by the state board of the criteria for endorsing a diploma as reflecting extraordinary academic achievement or exemplary demonstration by a student of postsecondary and workforce readiness, a local school board, a BOCES, or an institute charter high school may choose to grant such an endorsement to each graduating high school student who meets the criteria.

(c) A local school board, a BOCES, or an institute charter high school may also choose to grant endorsements in specified areas of focus and achievement, following adoption of the criteria for said endorsements by the state board pursuant to section 22-7-1009.

(2) Following approval of the criteria by the commission and the governing boards of the state institutions of higher education, as provided in section 22-7-1009 (3), a student who graduates with a high school diploma that includes a postsecondary and workforce readiness endorsement shall be guaranteed:

(a) To meet minimum academic qualifications for admission to, and to be eligible, subject to additional institutional review of other admission and placement qualifications, for placement into credit-bearing courses at all open, modified open, or moderately selective public institutions of higher education in Colorado; and

(b) To receive priority consideration, in conjunction with additional admissions criteria, and to be eligible, subject to additional institutional review of other admission and placement qualifications, for placement into credit-bearing courses at all other public institutions of higher education in Colorado. The additional admissions criteria shall be determined by each institution of higher education.