(1) Before legally binding the state by executing a federal education agreement or national program that may cost education entities more than $500,000 annually from state and local money to implement, a school official shall submit the proposed federal education agreement or national program to the governor for the governor's approval or rejection.
(2) The governor shall approve or reject each federal education agreement or national program.
(3)
(a) If the governor approves the federal education agreement or national program, the school official may execute the agreement.
(b) If the governor rejects the federal education agreement or national program, the school official may not execute the agreement.
(4) If a school official executes a federal education agreement or national program without obtaining the governor's approval under this section, the governor may issue an executive order declaring the federal education agreement or national program void.