(A) Of the funds made available for the Critical Needs Nursing Initiative Fund, amounts must be used for the following nursing initiatives in recommended priority order:

(1) faculty salary enhancements;

(2) new faculty;

(3) student scholarship, loan, and grant programs;

(4) establishment of the Office for Health Care Workforce Research; and

(5) use of simulation technology and equipment.

(B) Once the first priority for faculty salary enhancements has been provided in an amount not exceeding six million dollars in total funds for the program from each year funds are allocated for any year, the commission shall fund other priorities in such amounts as it considers appropriate within available funding.