(a) An extended learning opportunity shall count as elective credit toward graduation requirements and the achievement of applicable state standards for students, upon approval of the extended learning opportunity by the State Board of Education, a local board of education, or public charter school. To receive credit, a student shall submit a written request for credit and proof of successful completion of the approved extended learning opportunity to the designated administrator of the school he or she is attending. The State Board of Education shall adopt, and each local board of education and public charter school shall distribute and implement, an extended learning opportunities policy that provides all of the following:
(1) An application process for accepting and approving extended learning opportunities offered for credit by outside entities.
(2) A list of entities that are eligible to submit applications for offering extended learning opportunities. Eligible entities shall include, but not be limited to, all of the following:
a. Nonprofit organizations.
b. Businesses with established locations in the state.
c. Trade associations.
d. Any of the Armed Forces of the United States, subject to applicable age requirements.
(3) A process for students to follow for requesting credit.
(4) Criteria the local board of education or public charter school shall use to determine whether a proposed extended learning opportunity shall be approved to count toward credit.
(5) Criteria the local board of education or public charter school shall use to award a student a certificate of completion and credit for completing an approved extended learning opportunity. The criteria shall include, but not be limited to, allowing a student to demonstrate competencies through performance-based assessments and other methods independent of instructional time and credit hours.
(b) An entity approved by the State Board of Education to offer an extended learning opportunity shall be automatically qualified to offer that extended learning opportunity for all local boards of education and public charter schools in the state.
(c) A student who successfully completes an approved extended learning opportunity, and satisfies criteria established for the award of a certificate of completion and credit pursuant to subdivision (a)(5), shall be considered to have completed all of the required coursework for the particular course. If an approved extended learning opportunity satisfies all required coursework for a high school course, the student shall also be considered to have satisfied the equivalent number of credits toward his or her graduation requirements.