(A) From the Critical Needs Nursing Initiative Fund based on available funds, it is the intent of the General Assembly that faculty salary enhancements be provided for nursing faculty at accredited nursing programs at the public institutions of higher learning at the two-year, four-year, and graduate levels. This enhancement is intended to bring salaries for nursing faculty within the average for the geographic area in which the State of South Carolina competes for nursing faculty. Salary enhancements shall be based on a twelve-month appointment and prorated for nine-month appointments.

(B) In regard to these faculty salary enhancements, the Commission on Higher Education, upon consultation with members of the Advisory Committee on Academic Programs (ACAP) from institutions with accredited nursing programs and the chairperson, or designee, of the South Carolina Council of Deans and Directors in Nursing Education, shall determine and distribute funds from the Critical Needs Nursing Initiative Fund to the institutions where such faculty are employed. The governing body of the institution pursuant to its procedures shall then allocate these enhancements among its affected faculty in such amounts as it determines appropriate consistent with the guidelines of this chapter.