Sec. 2. The principal of a high school, with the approval of the governing body of the school corporation, may submit a request for a waiver under this chapter. To be eligible for a waiver, the high school must:
(1) provide evidence that the high school meets the criteria established by the state board under section 1 of this chapter; and
(2) provide a detailed explanation of how a waiver under this chapter would be used to improve students' academic performance at the high school.