Sec. 3. (a) A school corporation that is designated as a qualified district under this chapter is considered a qualified district until:
(1) the school corporation's performance and improvement rating falls two (2) or more categories in a one (1) year period; or
(2) the school corporation receives a performance and improvement rating in the second highest category or designation or lower for two (2) consecutive years.
(b) A high school that is designated as a qualified high school under this chapter is considered a qualified high school until:
(1) the high school's performance and improvement rating falls two (2) or more categories in a one (1) year period; or
(2) the high school receives a performance and improvement rating in the second highest category or designation or lower for two (2) consecutive years.