§ 670-b. Scholarships for academic excellence. 1. Number and
certification. Five thousand scholarships shall be awarded in the
nineteen hundred ninety-seven--ninety-eight academic year, and eight
thousand scholarships shall be awarded in the nineteen hundred
ninety-eight--ninety-nine academic year and thereafter. Such
scholarships shall be allocated as provided in article thirteen of this
chapter to eligible students certified to the president by the
commissioner.

2. Duration. A scholarship shall entitle the recipient to an annual
award for not more than four academic years of undergraduate study, or
five academic years, if the program of study normally requires five
years as defined by the commissioner pursuant to article thirteen of
this chapter.

3. Amount. a. (i) For the nineteen hundred ninety-seven--ninety-eight
academic year, there shall be two thousand scholarships in the amount of
one thousand dollars each and there shall be three thousand scholarships
in the amount of five hundred dollars each.

(ii) For the nineteen hundred ninety-eight--ninety-nine academic year
and thereafter, there shall be two thousand scholarships in the amount
of one thousand five hundred dollars each and there shall be six
thousand scholarships in the amount of five hundred dollars each.

(iii) Notwithstanding any inconsistent provision of law, students
awarded one thousand dollar scholarships in the nineteen hundred
ninety-seven--ninety-eight academic year shall be entitled in the
nineteen hundred ninety-eight--ninety-nine academic year and thereafter
to an annual award of one thousand five hundred dollars.

b. In no event shall the amount of the annual award exceed the
recipient's cost of attendance at the institution attended. Cost of
attendance shall mean tuition, required fees, laboratory and other
instruction related expenses, books, transportation, room and board.
Anything in this article to the contrary notwithstanding, a recipient of
a scholarship may concurrently receive with such award any other
academic or general award for which he or she may be eligible provided
however in no event shall a recipient be awarded a scholarship in any
amount where the combination of all such awards would exceed the
recipient's cost of attendance at the institution.