Sec. 8. If the treasurer of state revokes the ESA participating entity's status under section 4(a) of this chapter, the:
(1) treasurer of state may:
(A) terminate the ESA participating entity's account; and
(B) require the ESA participating entity to repay any improperly received funds under this article to the ESA program; and
(2) attorney general may petition a court with jurisdiction to impose a civil penalty against the ESA participating entity in an amount that does not exceed five thousand dollars ($5,000).