(a) Effective with respect to the 1976-77 academic year and thereafter, a program for State University supplemental tuition awards (SUSTA) is hereby established, subject to the availability of funds appropriated to the State University of New York for such purposes, for the payment of financial assistance to certain full-time students enrolled at the State-operated institutions of the State University who are residents of the State of New York, regularly enrolled in undergraduate programs at such institutions or regularly enrolled in the School of Law or the School of Pharmacy of the State University of New York at Buffalo. Payment of financial assistance of up to the difference between the tuition assistance program (TAP) award received by such student and the tuition and college fee charged to such student for an academic term may be authorized on behalf of such a student by the chief administrative officer or his duly designated representative, based upon the demonstrated financial need of the student, where the student meets the income eligibility requirements for and receives a maximum tuition assistance program (TAP) award pursuant to articles 13 and 14 of the Education Law.

(b) The maximum amount of State University supplemental tuition award for which a student may be eligible will be determined by the amount by which the tuition and the college fee for the program of instruction in which the student is enrolled exceeds the amount which the student receives under the tuition assistance program.

(c) The chancellor, or his designee, is authorized to establish such regulations and guidelines, consistent herewith, as may be necessary for the proper administration of the State University supplemental tuition award program.

(d) No part of any payment made from the program for State University supplemental tuition awards on behalf of a student shall be payable to him under any provision relating to refunds or otherwise.