(a) Subject to the amounts appropriated by the General Assembly and provisions relating to the scholarship shortfall reserve subaccount in Code Section 50-27-13, a HOPE GED voucher in the amount of $500.00 shall be awarded once to each student receiving a general educational development (GED) diploma awarded by the Georgia Department of Technical and Adult Education after June 30, 1993, shall be valid at any eligible postsecondary institution in Georgia for 24 months from the date of issuance.

(b) An otherwise eligible student receiving a HOPE GED voucher under this Code section is eligible for a HOPE scholarship as a sophomore, junior, or senior student.