(a) The school rating system shall be a multiple-measures approach that shall include without limitation:

(1) Academic achievement on the annual statewide student assessment;

(2) Student growth on the annual statewide student assessment;

(3) School-level graduation rate or rates; and

(4) English-learner progress or growth in acquiring English.

(b) The school rating system shall consider without limitation at least one (1) or more of the following indicators:

(1) Closing the achievement gap;

(2) Academic growth of student subgroups, including without limitation economically disadvantaged students, students from major racial and ethnic groups, English learners, and students with disabilities;

(3) The percentage of the grade nine (9) cohort with on-time completion of credit attainment at the end of grade nine (9);

(4) Equity in resource allocation;

(5) The percentage of students who earn:

(A) Advanced placement credit;

(B) Concurrent credit;

(C) International Baccalaureate credit; or

(D) Industry-recognized certification that leads to articulated or concurrent credit at a postsecondary institution;

(6) Student access to multiple flexible learning continua, including but not limited to personalized, competency, or mastery learning;

(7) Student access to preschool offered by the public school district;

(8) The proportional percentage of qualified educators who hold a National Board for Professional Teaching Standards certification or have an advanced degree beyond their bachelor's degree; and

(9) Public school district and community partnerships.

(c) Indicators included or considered as part of the school rating system shall:

(1) Allow for meaningful differentiation in school performance; and

(2) Be valid, reliable, comparable, and applicable statewide.

(d) The Department of Education shall promulgate rules to implement this section.