A. The governing authority of any school that receives a waiver pursuant to this Chapter shall provide periodic reports on progress in achieving specific benchmarks set forth by the board and shall provide, upon the request of the board, periodic reports on the uses and effectiveness of the waiver.
B. Not later than March first of each year, the board shall submit a report to the Senate Committee on Education and the House Committee on Education:
(1) Summarizing the uses of waivers granted pursuant to this Chapter.
(2) Describing whether such waivers:
(a) Increased the quality of instruction to students.
(b) Improved the academic achievement of students.
(3) Recommending any proposed legislative changes, if district success in improving quality of instruction and academic achievement under a waiver indicates that changes in an existing provision of law would be appropriate for all districts.