The program is the nation's most prestigious award that honors civilian Americans who have made a difference in the lives of others. The 109 living recipients of the Congressional Medal of Honor make up the Medal of Honor Society.
"Above and Beyond honors ordinary citizens who have gone above and beyond the call of duty to better the lives of their fellow Americans," said Governor Palin.
One nominee from each of the 50 states will be entered as a finalist for one of three national awards. Each finalist will receive a Congressional Medal of Honor Society Medallion of Nomination. Applications must be received by December 16.
Former President George H.W. Bush, former President Bill Clinton and former Secretary of State General Colin Powell are the honorary co-chairs of the initiative. They will speak at the award ceremony, which will be held March 25, and televised on March 30.
"What we want to do with this program is to illustrate how Americans have answered a call to gallantry in a civilian capacity," Powell said.