Mich. Comp. Laws § 390.1303: Number and amount of scholarships to be awarded annually.

Sec. 3.

The authority shall award scholarships annually in the amount of $1,000.00 to the top scorers on a national examination designated by the authority without regard to the financial circumstances of the students or their families and without reference to other aid for which the student may qualify. The number of scholarships shall be determined by dividing the amount appropriated by the legislature by $1,000.00.