(1) The department of higher education shall annually provide up to sixty financial stipends, not to exceed six thousand dollars each, to any:

(a) Teacher in a rural school or school district who is seeking certification as a national board certified teacher;

(b) Teacher in a rural school or school district who is seeking certification as a concurrent enrollment teacher and who needs additional course work or credentials to obtain such certification;

(c) Teacher completing an alternative licensure program approved by the department of education pursuant to article 60.5 of title 22 that leads to initial licensure in the state of Colorado and full-time employment as a teacher in a rural school or school district that serves rural schools; or

(d) Individual seeking to complete the required course work leading to certification as a special services provider and employment in a rural school or school district that is providing services to rural schools.

(1.5) If in any one fiscal year, the number of stipend applications submitted pursuant to this section exceeds the total amount of stipends available, the department of higher education shall give priority for stipend awards to teachers. After all teacher applications have been funded, stipends may then be awarded to special services providers, subject to available appropriations.

(2) The stipends may be used to offset application fees, evaluation costs, tuition costs, and any additional costs associated with obtaining initial licensure or in support of a teacher's or special services provider's professional development plan; except that the stipends may only be used to offset costs associated with an institution of higher education or an alternative licensure program that is approved by the state board of education.

(3) The financial stipends awarded should, to the extent practicable, include persons with disabilities and take into consideration the geographic, racial, and ethnic diversity of the state.

(4) A teacher or a special services provider who receives a stipend pursuant to this section must commit to become or remain employed in a rural school or school district that serves rural schools in the state of Colorado for a minimum of three years.