|(a) The maximum number of new exemptions that can be awarded statewide each year is 150. The actual number of new awards to be made in any year shall be determined by the Adjutant General's Office based on demand and available funding. If demand and funding permit it, each participating ROTC institution shall be allocated exemptions for at least two new students each academic year. The maximum number of exempt students for each ROTC institution will be determined by the percentage of the institution's Army and Air Force Reserve Officers' Training Corps enrollment in relation to statewide Army and Air Force Reserve Officers' Training Corps enrollment. (b) Percentages shall be calculated during the fall semester of every odd-numbered year. (c) Institutions will have until May 15 of each year to inform the Board of their ranking of exemption applicants for the following year. If they fail to have enough screened and ranked applicants to use their full allotment as of that date, the Board will reallocate the unused slots to other eligible institutions which have used their full allotments.