R277-703-6. Funding Provisions

  (1) An LEA shall receive a payment designated for each high school from which students graduated before the end of the twelfth grade year.

  (2) An LEA shall receive payment for one-half of the designated centennial scholarship amount for each student reported as having graduated at the conclusion of the eleventh grade year on the S-3 report in the fiscal year following the student's graduation.

  (3)(a) An LEA shall receive payment based on a percentage of the centennial scholarship amount for each student reported as graduating during the twelfth grade year.

  (b) A student described in Subsection (3)(a) shall also be listed on the S-3 report and payment shall be made to the LEA in the fiscal year following the students' graduation.

  (c) An LEA shall receive payment for schools operating on the quarter or trimester system for each early graduating student according to the following schedule:

  (i) end of first quarter of 12th grade year: 75 percent of one-half of the centennial scholarship amount;

  (ii) end of second quarter of 12th grade year: 50 percent of one-half of the centennial scholarship amount;

  (iii) end of third quarter of 12th grade year: 25 percent of one-half of the centennial scholarship amount;

  (iv) end of first trimester of 12th grade year: 67 percent of one-half of the centennial scholarship amount; or

  (v) end of second trimester of 12th grade year: 33 percent of one-half of the centennial scholarship amount.

  (4) A student who graduates from high school at the conclusion of the eleventh grade year or during the twelfth grade year shall be entitled to a partial tuition scholarship in the form of the early graduation centennial scholarship certificate to be used at a Utah public college, university, community college, technical college, or any other institution in Utah accredited by the Northwest Accreditation Commission that offers post-secondary courses.

  (5) The post-secondary institution selected by a student who receives a centennial scholarship shall complete the early graduation centennial scholarship certificate and submit it to the Superintendent.

  (6) Upon receipt of the early graduation centennial scholarship certificate, the Suprintendent shall verify the information, and reimburse the institution an amount set forth in the following schedule in the fiscal year during which the student enrolls in a post-secondary institution.

  (7) Except as provided in Section R277-703-7, to be eligible for the scholarship, the student must enroll in an eligible post-secondary institution within one calendar year of graduation.

  (8)(a) A student who graduates at the end of the eleventh grade year shall receive a full centennial scholarship.

  (b) A student who graduates at the end of the first quarter of the twelfth grade year shall receive 75 percent of the centennial scholarship amount.

  (c) A student who graduates at the end of the second quarter of the twelfth grade year shall receive 50 percent of the centennial scholarship amount.

  (d) A student who graduates at the end of the third quarter of the twelfth grade year shall receive 25 percent of the centennial scholarship amount.

  (e) A student who graduates at the end of the first trimester of the twelfth grade year shall receive 67 percent of the centennial scholarship amount.

  (f) A student who graduates at the end of the second trimester of the twelfth grade year shall receive 33 percent of the centennial scholarship amount.