(a) A local innovation plan must be developed for a school district before the district may be designated as a district of innovation.
(b) A local innovation plan must:
(1) provide for a comprehensive educational program for the district, which program may include:
(A) innovative curriculum, instructional methods, and provisions regarding community participation, campus governance, and parental involvement;
(B) modifications to the school day or year;
(C) provisions regarding the district budget and sustainable program funding;
(D) accountability and assessment measures that exceed the requirements of state and federal law; and
(E) any other innovations prescribed by the board of trustees; and
(2) identify requirements imposed by this code that inhibit the goals of the plan and from which the district should be exempted on adoption of the plan, subject to Section 12A.004.