§17–104.

    (a)    (1)    Except as provided in paragraphs (2), (3), (4), and (5) of this subsection, the Maryland Higher Education Commission shall compute the amount of the annual apportionment for each institution that qualifies under this subtitle by multiplying the number of full–time equivalent students enrolled at the institution during the fall semester of the fiscal year preceding the fiscal year for which the aid apportionment is made, as determined by the Maryland Higher Education Commission by:

            (i)    In fiscal year 2009, an amount not less than 16% of the State’s General Fund per full–time equivalent student appropriation to the 4–year public institutions of higher education in this State for the preceding fiscal year;

            (ii)    In fiscal year 2010, an amount not less than 12.85% of the State’s General Fund per full–time equivalent student appropriation to the 4–year public institutions of higher education in the State for the same fiscal year;

            (iii)    In fiscal year 2011, an amount not less than 9.8% of the State’s General Fund per full–time equivalent student appropriation to the 4–year public institutions of higher education in this State for the same fiscal year;

            (iv)    In fiscal year 2012, an amount not less than 9.2% of the State’s General Fund per full–time equivalent student appropriation to the 4–year public institutions of higher education in this State for the same fiscal year;

            (v)    In fiscal year 2014, an amount that is the greater of 9.4% of the State’s General Fund per full–time equivalent student appropriation to the 4–year public institutions of higher education in this State for the same fiscal year or $875.53 per full–time equivalent student;

            (vi)    In fiscal year 2015, an amount that is the greater of 9.4% of the State’s General Fund per full–time equivalent student appropriation to the 4–year public institutions of higher education in this State for the same fiscal year or $875.53 per full–time equivalent student;

            (vii)    In fiscal year 2017, an amount not less than 10.1% of the State’s General Fund per full–time equivalent student appropriation to the 4–year public institutions of higher education in this State for the same fiscal year;

            (viii)    In fiscal year 2018, an amount not less than 10.5% of the State’s General Fund per full–time equivalent student appropriation to the 4–year public institutions of higher education in this State for the same fiscal year;

            (ix)    In fiscal year 2019, an amount not less than 10.8% of the State’s General Fund per full–time equivalent student appropriation to the 4–year public institutions of higher education in this State for the same fiscal year;

            (x)    In fiscal year 2020, an amount not less than 11.1% of the State’s General Fund per full–time equivalent student appropriation to the 4–year public institutions of higher education in this State for the same fiscal year; and

            (xi)    In fiscal year 2022 and each fiscal year thereafter, an amount not less than 15.5% of the State’s General Fund per full–time equivalent student appropriation to the 4–year public institutions of higher education in this State for the same fiscal year.

        (2)    For each of fiscal years 2011 and 2012, the total amount of the aid provided under this subtitle shall be $38,445,958, to be allocated among the institutions that qualify under this subtitle in proportion to the number of full–time equivalent students enrolled at each institution during the fall semester of the fiscal year preceding the fiscal year for which the aid apportionment is made, as determined by the Maryland Higher Education Commission.

        (3)    In fiscal year 2013, the total amount of aid due to all institutions shall be $38,056,175.

        (4)    In fiscal year 2016, the total amount of the aid provided under this subtitle shall be $42,822,240, to be allocated among the institutions that qualify under this subtitle in proportion to the number of full–time equivalent students enrolled at each institution during the fall semester of fiscal year 2015, as determined by the Maryland Higher Education Commission.

        (5)    In fiscal year 2021, the total amount of the aid provided under this subtitle shall be $69,624,905, to be allocated among the institutions that qualify under this subtitle in proportion to the number of full–time equivalent students enrolled at each institution during the fall semester of fiscal year 2020, as determined by the Maryland Higher Education Commission.

    (b)    (1)    Full–time equivalent students enrolled in seminarian or theological programs shall be excluded from the computation required by subsection (a) of this section.

        (2)    Full–time equivalent students enrolled in programs that are part of an agreement or contract with for–profit educational services entities shall be excluded from the computation required by subsection (a) of this section.

    (c)    Payments of State general funds under Subtitle 3 of this title shall be excluded from the computation required by subsection (a) of this section.

    (d)    For purposes of this section, the State’s General Fund appropriation per full–time equivalent student to the 4–year public institutions of higher education in the State for a fiscal year shall include:

        (1)    Noncapital appropriations from the Higher Education Investment Fund; and

        (2)    Appropriations, regardless of where they are budgeted, designated for the general operation of 4–year public institutions of higher education in the State, including personnel–related appropriations.