Sec. 4. To be eligible for a grant under the program, a school corporation or charter school must meet the following:
(1) Apply in a manner prescribed by the department.
(2) Identify not more than twenty percent (20%) of certified teachers as eligible grant recipients annually based on criteria outlined in section 5 of this chapter.
(3) Report how each recipient met the criteria outlined in section 5 of this chapter.
(4) Meet any other requirements established by the department.