Sec. 12. (a) A school corporation assigning students to a laboratory school shall, at least once each year, prepare a report or reports, as required by law, governing the operation of the school corporation, showing:
(1) the number of students attending;
(2) the grades taught;
(3) the methods of instruction used; and
(4) the operational costs, as defined by law, per student.
(b) Each state educational institution operating a laboratory school shall prepare a report or reports, regardless of whether or not the state educational institution has an agreement with a school corporation. The report or reports must be prepared once each year and must contain:
(1) a comparison of the results obtained by the new methods of instruction with the conventional methods of instruction; and
(2) the new methods of instruction recommended for general use in public schools.
(c) A copy of each report must be filed with the department. The copies must be furnished to any legislative committee having an interest in the matters.