For an elementary school or a middle school, the state board shall assign the school's overall rating, in accordance with Section 53E-5-207, based on the school's performance on the following indicators:
(1) academic achievement as measured by performance on a statewide assessment of English language arts, mathematics, and science;
(2) academic growth as measured by progress from year to year on a statewide assessment of English language arts, mathematics, and science; and
(3) equitable educational opportunity as measured by:
(a) academic growth of the lowest performing 25% of students as measured by progress of the lowest performing 25% of students on a statewide assessment of English language arts, mathematics, and science; and
(b) except as provided in Section 53E-5-209, English learner progress as measured by performance on an English learner assessment established by the state board.