The Board shall waive the requirements for licensure for an applicant to practice clinical professional art therapy if the applicant: Is licensed as a clinical professional art therapist in another state, territory, or jurisdiction that has requirements that are equivalent to or exceed the requirements of § 17–304.1 of this subtitle; Submits an application to the Board on a form that the Board requires; and Pays to the Board an application fee set by the Board. The Board shall adopt regulations to implement this section.