For the 2021-2022 and 2022-2023 school years, the system shall provide a waiver of tuition and fees to any student who graduated from a high school in this State in the 2019-2020 or 2020-2021 school year and who has completed an application for federal student aid financial aid programs and is eligible for a Federal Pell Grant for the academic year in which the person applies to the system. The amount of the waiver is limited to the difference between the amount of the full tuition and fees and the amount provided by the Federal Pell Grant and is limited to 2 school years. The system may request federal funding allocated to the State in any federal law enacted after December 15, 2020 that provides stimulus funds due to the pandemic related to coronavirus disease 2019, or COVID-19, and additional General Fund appropriations from the Legislature to offset the reduction in tuition and fee revenues. The availability of the waiver is limited to the amount appropriated. [PL 2021, c. 372, §1 (NEW).]