Subject to appropriation by the general assembly in the annual appropriations act, the Tennessee higher education commission, in consultation with the board of regents, may award a grant to any college of applied technology or community college in this state that is located in a region where advanced training opportunities or a highly-skilled workforce is lacking. The funds from the grants must be used to establish and implement a LEAP under this part. The commission shall establish procedures for grant applications, eligibility and reporting requirements, and the maximum amount of any grant authorized by this section.