(1) (a) The general assembly hereby finds and declares that one of the most important components of a high-quality education is a good teacher. In Colorado, there is a shortage of public school teachers employed in high-need areas such as mathematics, science, special education, English language acquisition, and world languages. Strengthening Colorado's pipeline of licensed teachers in high-need areas will help to provide every student in every public school with the teacher he or she needs to thrive and will contribute to raising the standard of living in Colorado.

(b) Therefore, the general assembly determines that it is in the best interest of Colorado's students to encourage institutions of higher education to create scholarships for students in approved teacher preparation programs who excel in high-need content areas and who demonstrate an interest in or commitment to teaching as a career.

(2) As used in this part 9, unless the context otherwise requires:

(a) "Approved educator preparation program" means an approved educator preparation program as defined in section 23-1-121 (1)(a).

(b) "BOCES" means a board of cooperative services as defined in section 22-5-103 (2), C.R.S.

(c) "Department" means the department of higher education created and existing pursuant to section 24-1-114, C.R.S.

(d) "Institution of higher education" means a public institution of higher education operating in this state that is supported in whole or in part by general fund moneys.

(e) "School district" means a school district in Colorado organized and existing pursuant to law. "School district" does not include a local college district.

(3) (a) There is hereby created in the department the teach Colorado grant initiative to provide moneys for use in reducing the financial barriers to entering the teaching profession, supporting high-ability students who have demonstrated a commitment to the teaching profession, and attracting high-ability students in high-need content areas into the teaching profession. The commission shall adopt guidelines pursuant to which an institution of higher education may submit an application for a grant from the teach Colorado grant initiative to use in funding scholarships to assist persons in entering the teaching profession. At a minimum, an institution's application shall include a description of the scholarships, including student eligibility, identification of the high-need content areas or other high-need areas that will be addressed through the award of scholarships, expectations that will be imposed on the recipients, and the amount of scholarship money to be awarded to each recipient.

(b) In administering the teach Colorado grant initiative, the department shall annually collaborate with the department of education to determine the high-need content areas, which may include, but need not be limited to, mathematics, science, special education, English language acquisition, and world languages. The department shall annually publicize to the institutions of higher education the content areas that are considered to be high-need areas.

(c) In designing a scholarship, an institution of higher education that is seeking funding from the teach Colorado grant initiative may include students who are seeking a baccalaureate degree and have enrolled in an approved teacher preparation program, students who demonstrate excellence in a high-need content area and are considering enrolling in an approved teacher preparation program, and students who have completed a baccalaureate degree or higher and have enrolled or are considering enrolling in an approved teacher preparation program. Scholarship moneys shall not be paid on behalf of a student until the student has enrolled in an approved teacher preparation program.

(d) The commission shall adopt such additional guidelines as may be necessary for administration of the teach Colorado grant initiative, including but not limited to the application process, criteria for awarding grants in addition to those specified in subsection (4) of this section, and the amount of grants to be awarded.

(4) In awarding grants through the teach Colorado grant initiative, the department shall give special consideration to scholarships that:

(a) Are designed to create a partnership between two institutions of higher education, one of which does not have an approved educator preparation program but has students who have demonstrated academic excellence in one or more high-need content areas and have expressed an interest in entering the teaching profession;

(b) Are designed to create a partnership between the institution of higher education and one or more school districts or BOCES that have a shortage of teachers in high-need content areas;

(c) Are designed to meet the needs of rural or high-poverty schools, school districts, or BOCES, as identified by the department of education;

(d) Are designed to assist honorably discharged veterans of the armed forces in entering the teaching profession; or

(e) Require each scholarship recipient to commit to completing his or her student teaching in a rural or high-poverty school, school district, or BOCES, as identified by the department of education.

(5) The amount of a scholarship awarded to an individual student by an institution of higher education pursuant to a teach Colorado grant shall not exceed the amount of in-state tuition charged by the institution for thirty semester hours of credit.

(6) On or before February 1, 2009, and on or before February 1 each year thereafter, the commission shall report to the education committees of the senate and the house of representatives, or any successor committees, concerning the number of institutions of higher education receiving teach Colorado grants pursuant to this section, the amount of the grants awarded, the number of students receiving scholarships through grants awarded pursuant to this section, and a general summary of the scholarships funded through grants awarded pursuant to this section.

(7) In addition to any general funds appropriated by the general assembly to the department for the implementation of the teach Colorado grant initiative, the department is authorized to seek and accept gifts, grants, and donations from private and public sources for the implementation of the teach Colorado grant initiative.