(a) The department may waive any prerequisite to obtaining a license for an applicant:
(1) after reviewing the applicant's credentials and determining that the applicant holds a valid license from another state that has license requirements substantially equivalent to those of this state; or
(2) after determining the applicant has a valid license from another state with which this state has a reciprocity agreement.
(b) The department may enter into an agreement with another state to permit licensing by reciprocity.