Sec. 8. (a) The state board shall periodically review compliance waiver requests that were approved by the state board under this chapter.
(b) The state board may:
(1) amend, suspend, or revoke a compliance waiver request that was approved by the state board if the state board determines that the school or group of schools is not meeting the goals or outcomes described in the applicable application; and
(2) grant approval of a waiver described in section 4 of this chapter as part of a school's application for accreditation under this chapter.