(a) The state board shall adopt rules and regulations for administration of the provisions of this act and shall:

(1) Develop the program and provide for its operation and management by eligible educational institutions;

(2) establish guidelines and procedures for operation and management of the program. Such guidelines and procedures shall be established by the state board after consultation with, and consideration of advice from, the financial aids officers of all eligible educational institutions;

(3) provide for statewide coordination of the program;

(4) review budget requests of eligible educational institutions for operation of the program and allocate and distribute moneys appropriated therefor to the institutions;

(5) provide for reallocation of moneys appropriated for operation of the program among eligible institutions during the year; and

(6) evaluate the program annually and make a report thereon to the governor and the legislature.

(b) The guidelines and procedures established under subsection (a) shall address:

(1) The definition of employer and employment for purposes of the career component of the program;

(2) the determination of eligibility of students for participation in the program;

(3) salaries, wages and other benefits to be provided for eligible students under the career component of the program;

(4) the percentage of the state share of salaries and wages to be provided for eligible students under the career component of the program;

(5) provisions to be included in contracts and agreements entered into under the career component of the program by employers, eligible educational institutions, and eligible students;

(6) the suitability and appropriateness of employment to be provided under the career component of the program, including the relevance thereof to the educational preparation of eligible students for a career;

(7) ways to ensure that the provision of employment under the career component of the program does not displace existing employees or impair existing contracts;

(8) the financial assistance to be provided for eligible students who participate in the YES component of the program;

(9) procedures for the making of applications by school districts requesting the performance of youth education services by eligible students;

(10) provisions to be included in agreements with school districts for the performance of youth education services by eligible students;

(11) ways to ensure that participation in the program is reasonably available for all eligible students who desire participation; and

(12) such other matters as the state board deems necessary or appropriate to the effective operation of the program.