(a) The commission's studies and recommendations shall encompass the programs and authorities of the University of Tennessee, Tennessee Technological University, Austin Peay State University, Tennessee State University, the University of Memphis, East Tennessee State University, Middle Tennessee State University, the community colleges and the state's colleges of applied technology.
(b)
(1) The commission shall consider Tennessee's private institutions of higher education in its continuous studies of the immediate and future needs of the state in the area of higher education.
(2) These studies shall consider the place of the private institutions in relation to the public institutions.
(3) If these studies show that accredited private institutions in this state can provide either the facility or program needs of the state, the commission is authorized to contract with accredited private institutions in this state for the provision of those educational programs and facilities that will serve to meet the needs of the people of the state.