(a)
(1) If a hearing by the State Board of Education is requested in writing by either or both of the affected school districts or any party to the action, at least ten (10) days before the next regular state board meeting, the state board shall schedule a hearing in regard thereto and shall give each of the affected districts and the affected parties at least five (5) days' notice of the date, time, and place of the hearing.
(2) On the day and at the time scheduled for the hearing, the state board may hear all interested parties and, upon conclusion thereof, may issue its ruling in regard to the application for payment of funds in behalf of the child with disabilities, and, unless an appeal is filed therefrom with a court of competent jurisdiction within twenty (20) days after the date of such ruling, the ruling shall be final and shall be binding on the school districts and the parties affected.
(b) If no hearing is requested within the time provided in subsection (a) of this section, the state board shall, at its next meeting scheduled after receipt of the hearing officer's report and recommendations, either approve, reject, or modify the ruling and give notice thereof in writing to the school districts involved within five (5) days, and the ruling shall be binding upon the school districts and parties affected unless an appeal is filed with a court of competent jurisdiction within twenty (20) days of the date of the ruling.