Sec. 5. (a) The state board may approve an application to waive compliance with provisions described in section 4 of this chapter only if the waiver request is related to a specific goal or outcome of the school or group of schools.
(b) The state board may approve an application under this chapter if the state board determines that approving the application will likely:
(1) improve student performance and outcomes;
(2) offer the applicant flexibility in the administration of educational programs or improve the efficiency of school operations;
(3) promote innovative educational approaches to student learning; or
(4) advance the mission or purpose of the school or group of schools.