As used in this act:

  (a) “Academic year” means the period from September 1 of a calendar year to August 31 of the next calendar year.

  (b) “Approved postsecondary educational institution” means any of the following:

  (i) A public or private college or university, junior college, or community college that grants degrees or certificates and is located in this state.

  (ii) A postsecondary educational institution, other than an educational institution described in subparagraph (i), that is located in this state, grants degrees, certificates, or other recognized credentials, and is designated by the department as an approved postsecondary educational institution.

  (iii) A service academy.

  (c) “Clock hour” means a time period consisting of any of the following:

  (i) Fifty to 60 minutes of class, lecture, or recitation in a 60-minute period.

  (ii) Fifty to 60 minutes of faculty-supervised laboratory work, shop training, or internship in a 60-minute period.

  (iii) Sixty minutes of preparation in a correspondence course.

  (d) “Cumulative grade point average” means the weighted mean value of the courses considered by an approved postsecondary educational institution in determining whether to award a student an associate’s degree or a 2-year certificate of completion in a vocational training program, whether the student has completed a comparable vocational education program, or whether the student has completed 50% or more of the academic requirements for the award of a bachelor’s degree, including any courses completed at another approved postsecondary educational institution if the student transfers the credits for those courses to the approved postsecondary educational institution making that determination.

  (e) “Department” means the department of treasury.

  (f) “Fiscal year” means a fiscal year of this state. A fiscal year begins on October 1 of a calendar year and ends on September 30 of the next calendar year.

  (g) “High school graduate” means an individual who has received a high school diploma from a high school or passed the general educational development (GED) diploma test or any other high school graduate equivalency examination approved by the state board of education.

  (h) “Michigan promise grant” means a grant awarded by the department under this act.

  (i) “Qualifying score” means a score in a reading, writing, mathematics, science, or social studies component of a state assessment test that has been determined by the superintendent of public instruction to indicate readiness to enroll in a course in that subject area in an approved postsecondary educational institution.

  (j) “Service academy” means the United States military academy, United States naval academy, United States air force academy, United States coast guard academy, or United States merchant marine academy.

  (k) “State assessment test” means any of the following:

  (i) Subject to subparagraph (ii), the complete Michigan merit examination described in section 1279g of the revised school code, 1976 PA 451, MCL 380.1279g, and section 104b of the state school aid act of 1979, 1979 PA 94, MCL 388.1704b.

  (ii) For a student who has previously taken the complete Michigan merit examination, the college examination component of the Michigan merit examination, as described in section 1279g(2)(a) of the revised school code, 1976 PA 451, MCL 380.1279g, and section 104b(2)(a) of the state school aid act of 1979, 1979 PA 94, MCL 388.1704b.

  (iii) Any other test administered by the department of education to students in grades 11 and 12 to assure state compliance with the federal no child left behind act of 2001, Public Law 107-110.

  (l) “Trust fund” means the Michigan merit award trust fund established in section 9 of the Michigan trust fund act, 2000 PA 489, MCL 12.259.