Appropriates $450,432 for the 2013-14 fiscal year and $901,864 for fiscal year 2014-15 from the funds appropriated to the State Educational Assistance Authority (Authority) from the Education Lottery to be used to provide 200 community college scholarships. Directs each community college to select one veteran and one needy student from each county in its service area to receive the scholarship annually.  Provides that the Authority can use up to 2% of the appropriated funds to administer the scholarships; remainder will be used for scholarships.

Provides that in order to be eligible to receive a scholarship under this act, a student seeking a degree, diploma, or certificate at a community college must meet six specified requirements, including but not limited to, meeting all eligibility requirements for the federal Pell Grant except the expected family contribution requirement, and the student must meet enrollment standards by being admitted, enrolled, and classified as an undergraduate student in a matriculated status at a community college.

Effective July 1, 2013.