The development of subject matter tests shall be initiated to measure performance of high school students in subjects designated by the state board of education and reviewed by the education committee of the senate and the education committee of the house of representatives. These tests shall reflect the complete range of topics covered within the list of state-approved textbooks and instructional materials for that subject. As soon as valid tests have been developed, the testing of students shall be initiated to provide for value-added assessment. Value-added assessment shall be conducted annually. Value-added assessment may be initiated in other subjects designated by the state board of education and reviewed by the education committee of the senate and the education committee of the house of representatives at such times as valid tests are developed that effectively measure performance in such subjects.