(1) There is created a Rosewood Family Scholarship Program for the direct descendants of the Rosewood families, not to exceed 50 scholarships per year.
(2) The Rosewood Family Scholarship Program shall be administered by the Department of Education. The State Board of Education shall adopt rules for administering this program which shall at a minimum provide for the following:
(a) The annual award to a student shall be up to $6,100 but should not exceed an amount in excess of tuition and registration fees.
(b) If funds are insufficient to provide a full scholarship to each eligible applicant, the department may prorate available funds and make a partial award to each eligible applicant.
(c) The department shall rank eligible initial applicants for the purposes of awarding scholarships based on need as determined by the Department of Education.
(d) Payment of an award shall be transmitted in advance of the registration period each semester on behalf of the student to the president of the university or Florida College System institution, or his or her representative, or to the director of the career center which the recipient is attending.
(3) Beginning with the 1994-1995 academic year, the department is authorized to make awards for undergraduate study to students who: (a) Meet the general requirements for student eligibility as provided in s. 1009.40, except as otherwise provided in this section.
(b) File an application for the scholarship within the established time limits.
(c) Enroll as certificate-seeking or degree-seeking students at a state university, Florida College System institution, or career center authorized by law.
(4) Funding for the program shall be as provided in the General Appropriations Act.