Waiving requirements for accredited schools.

Requires (instead of allows) the state board of education (state board) to approve an application to waive compliance with certain provisions requested by a school or group of schools under the performance based accreditation law. Requires the state board to do the following: (1) Review each compliance waiver request at least once every three years (instead of periodically). (2) Suspend or revoke a compliance waiver if the state board determines that the school or group of schools has not demonstrated an improvement in student academic performance.