(a) If an institution of higher education receives grant funding from a non-State source to increase the quality and diversity of applicants for the institution's teacher training program, the institution may receive additional grant funding from the State, as needed, in an amount equal to or less than the non-State grant received by the institution.

(b) In each fiscal year, the amount of grant funding provided by the State to institutions of higher education in accordance with subsection (a) of this section may not exceed $ 500,000.