(a) There is established the Virgin Islands Territorial Emergency Management Scholarship Fund. Administered by the Virgin Islands Territorial Emergency Management Agency (“VITEMA”), for Virgin Islands students studying emergency management.
(b) The Director of VITEMA in collaboration with the Virgin Islands Board of Education shall adopt regulations governing the applications, granting of scholarships and eligibility requirements. The Director of VITEMA may certify qualified students for the scholarships. To be eligible for a scholarship under this section a student must maintain a minimum grade point average of 2.5.
(c) Scholarships granted under this section may not exceed $5,000 per year, and the scholarship amount must be applied to the payment of tuition, lodging, board, books supplies transportation and other related expenses.
(d) A student receiving a scholarship under this section shall sign a contract committing the student to return to the Virgin Islands upon completion of the course of study and work in the Virgin Islands in the field of emergency management or a related field. A student who fails to comply with this section is liable to the Government of the Virgin Islands for the amount of the scholarship plus 10% of the total amount of the scholarship.
(e) Funds must be made available from an annual appropriation of two percent of the Peace Officer Training Fund.