(a) A local school system may request increased flexibility from certain state laws, rules, and regulations in exchange for increased accountability and defined consequences through a contract with the State Board of Education. Such contract shall establish a framework of accountability, flexibility, and consequences in accordance with this article.
(b) A local school system may elect not to request increased flexibility in exchange for increased accountability and defined consequences and elect to remain under all current laws, rules, regulations, policies, and procedures, and such local school system, which shall be known as a Title 20 o Waivers system, shall:
(1) Conduct a public hearing for the purpose of providing public notice that such local school system is electing to be a Title 20/No Waivers system and to remain subject to all state rules, regulations, policies, and procedures and the provisions of this title. The public hearing shall be advertised in a local newspaper of general circulation which shall be the same newspaper in which other legal announcements of the local board of education are advertised; and
(2) Sign a statement on a form provided by the state board that such local school system is electing to be a Title 20 o Waivers system.
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