(1) Beginning in the 2018-2019 school year, a public school district may submit a plan for approval to the Division of Elementary and Secondary Education to award units of high school course credit based on a demonstration of subject matter competency instead of, or in combination with, completing hours of classroom instruction.
(2) The plan shall include a method for recording demonstrated subject matter competency on high school transcripts.
(3) Upon approval, a public school district shall not be in violation of any requirement in the Standards for Accreditation of Arkansas Public Schools and School Districts that units of credit be awarded for a minimum number of clock hours if the public school district awards units of credit based on a demonstration of subject matter competency instead of, or in combination with, completing hours of classroom instruction if the awarding of credit is in compliance with the public school district's approved plan.
(4) The division may promulgate rules to implement this section, including without limitation guidelines to assist public school districts in transitioning to awarding credits as provided under this section.