Sec. 2. Any license issued to a foster home, day care home, day care center, child caring institution, or children's home that:
(1) was issued before July 1, 1988, without the approval of the state board of health; and
(2) otherwise was issued in compliance with IC 12-3-2 (before its repeal, later codified at IC 12-17-4, before its repeal), as effective before July 1, 1988;
is legalized and validated.