A permit issued pursuant to the Emergency Transportation Act shall be terminated by the state transportation director upon thirty days' written notice to the holder of the permit if the state transportation director receives written notice from:
A. the department of transportation that it has determined that a public transportation emergency in the area in which the permittee provides general public transportation no longer exists or that public or private transportation systems are being adversely affected in the area; or
B. the local school board that the local school board has determined that school bus service to students is being adversely affected by providing general public transportation under the permit.