(a) There is hereby established the D. Hamilton Jackson Scholarship Fund for political science, labor relations, and journalism to be awarded annually to one Virgin Islands high school graduate who is planning to attend college and pursue a degree in political science, labor relations, or journalism.
(b) The D. Hamilton Jackson Scholarship Fund for political science, labor relations, and journalism shall be administered by the Virgin Islands Board of Education. Applicants for said scholarship shall apply to the Board of Education pursuant to rules and regulations established by the Board. The Board upon review of all applicants shall select the recipient of the scholarship.
(c) The D. Hamilton Jackson Scholarship Fund for political science, labor relations, and journalism shall be for eight (8) semesters at one thousand dollars ($1,000.00) per semester.
(d) All funds appropriated or donated for the D. Hamilton Jackson Scholarship Fund shall be administered and expended by the Board of Education for the purposes of this section.