(A) From the Critical Needs Nursing Initiative Fund, it is the intent of the General Assembly that new nursing faculty positions be added to accredited nursing programs at the public institutions of higher learning at the four-year and graduate level based on available funds.

(B) The commission, 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 establish guidelines and criteria for funding the new positions to the recipient institutions based on faculty need.

(C) In regard to these new faculty positions, the Commission on Higher Education shall determine and distribute funds from the Critical Needs Nursing Initiative Fund to the institutions where the new faculty positions are to be located. The governing body of the institution shall then create and fund these new positions in the manner it considers appropriate consistent with the guidelines of this chapter.