(a) The state board of education, through the commissioner of education, is authorized and directed to take such action as the board deems necessary to implement and to oversee implementation of this part in a thorough and cost-effective manner.
(b) Throughout the implementation phase of this part, the board shall periodically inform the appropriate committees of the senate and of the house of representatives, designated by the respective speakers, of actions planned or undertaken to implement these provisions.
(c) The state board shall also take appropriate steps to:
(1) Explore alternatives and undertake negotiations to effectuate this part;
(2) Effectuate, in coordination with other appropriate agencies, the lease or transfer of the state-owned real and personal property currently utilized for educational television purposes, as may be necessary to accomplish the purposes of this part;
(3) Encourage and assist in the creation and development of the Tennessee public television council;
(4) Explore alternative methods and undertake action to assist public television stations in the development of their fund-raising capabilities; and
(5) Study alternative formulas for distributing annual state educational television grants in order to achieve an equitable funding pattern and encourage local fund-raising efforts. The formula shall be fully implemented no later than July 1, 1987.