(a) This section shall be known and may be cited as the “Helping Heroes Act of 2008.”

(b) As used in this section, unless the context otherwise requires:

(1) “Successful completion of a course” means that the student received a nonfailing grade as the final grade for the course; and

(2) “Veteran” means a former member of the United States armed forces or a former or current member of a reserve or Tennessee National Guard unit who was called into active military service of the United States, as defined in § 58-1-102.

(c) To be eligible for a helping heroes grant, a veteran shall:

(1) Have received an honorable discharge;

(2) Have been a Tennessee resident, as defined by regulations promulgated by the board of regents under § 49-8-104, for one (1) year immediately preceding the date of application for a helping heroes grant;

(3) Have been awarded:

(A) The Iraq campaign medal;

(B) The Afghanistan campaign medal; or

(C) On or after September 11, 2001, the global war on terrorism expeditionary medal;

(4) Not be ineligible for a grant under § 49-4-904;

(5) Be admitted to and enroll in an eligible postsecondary institution seeking an associate or baccalaureate degree;

(6) Have not received a baccalaureate degree; and

(7) Make application for a helping heroes grant for any semester in which the veteran successfully completes six (6) or more semester hours.

(d) A veteran who qualifies for a helping heroes grant under this section shall not be required to meet any academic standard at the time of enrollment in an eligible postsecondary institution to be eligible to receive the grant.

(e) Award of a helping heroes grant shall be made after the completion of a semester. If a student successfully completes twelve (12) or more semester hours, then the student shall receive the full amount of the grant as provided in subsection (f). If a student successfully completes six (6) to eleven (11) semester hours, then the student shall receive one half (½) of the full grant. A student successfully completing fewer than six (6) semester hours in a semester shall not be eligible for the grant for that semester, but may subsequently be eligible for the grant in a semester in which the student successfully completes at least six (6) semester hours; provided, that the student meets all other eligibility requirements during that semester.

(f) Subject to the amounts appropriated by the general assembly and any law relating to a shortfall in funds available for postsecondary financial assistance from the net proceeds of the state lottery, a helping heroes grant awarded to a student shall be determined in accordance with § 4-51-111 and shall be set in the general appropriations act.

(g) A student may receive a helping heroes grant for a maximum of eight (8) semesters. In calculating the total number of semesters a student may receive a helping heroes grant, semesters for which a student receives a helping heroes grant and in which the student successfully completes six (6) to eleven (11) semester hours shall count as one-half (½) semester in the total.

(h) A veteran shall be eligible for a helping heroes grant for any semester for which the veteran meets all qualifications for the grant and that commences prior to the eighth anniversary of the veteran's honorable discharge from military service.

(i) A helping heroes grant shall be awarded in addition to any other financial aid for which the recipient veteran qualifies.

(j) Helping heroes grants shall not be awarded for any semester prior to fall semester 2008.

(k) Notwithstanding the provisions of § 49-4-903 to the contrary, TSAC shall award helping heroes grants each year on a first come, first served basis; provided, however, that no more than seven hundred fifty thousand dollars ($750,000) shall be expended for helping heroes grants per year.

(l) The comptroller of the treasury, through the comptroller's office of research and education accountability, shall review and study the Tennessee helping heroes scholarship program to determine the effectiveness of the program in educating veterans. The study shall be done in the fifth year of the program and every four (4) years thereafter. The comptroller of the treasury shall report the findings and conclusions of the study to the speakers of the senate and house of representatives and the chairs of the education committees of the senate and the house of representatives.