A.     A local school board, alone or in cooperation with other local school boards, may develop a plan for the establishment of an area vocational high school. The plan shall be submitted to the department for its approval.

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B.     The department may approve a plan for an area vocational high school if the plan adequately provides for:

(1)     sufficient financing for the operation of the school, which may include an election for a special levy not to exceed one dollar ($1.00) for each one thousand dollars ($1,000) of net taxable value, and that may be in addition to levies authorized by the College District Tax Act;

(2)     a broad vocational and technical education program serving a sufficient number of students to achieve economic viability; and

(3)     compliance with the state plan for vocational education.