A BILL TO BE ENTITLED AN ACT TO CLARIFY THAT CHARTER SCHOOLS MAY USE STATE FUNDS FOR OPERATIONAL LEASES AND MAY ASSIGN STATE FUNDS TO OBTAIN FUNDS FOR FACILITIES, EQUIPMENT, AND OPERATIONS; AND TO REQUIRE ACCOUNTING OF CHARTER SCHOOL FUNDS AND A TIME LINE FOR THE TRANSFER OF FUNDS BY LOCAL BOARDS OF EDUCATION TO CHARTER SCHOOLS AND TO PROVIDE FOR ATTORNEYS' FEES, COSTS AND INTEREST IN ACTIONS TO ENFORCE TRANSFERS.
House committee substitute makes the following changes to the 1st edition.
Amends GS 115C-238.29H(a1) to clarify that charter schools may use state funds for operational loans, in addition to facilities and equipment loans. Amends subsection (b) to clarify that if a student attends a charter school, the local school administrative unit (LEA) must transfer an amount equal to the per pupil share of the local current expense fund (was, appropriation) to the charter school within 30 days (was, 15)of the LEA's receipt of its local current expense appropriation. Provides that if the LEA fails to comply with the requirements of subsection (b) in a timely manner, an interest rate of 8% (was 6%) will accrue on the amount required to be transferred tothe charter school until that amount plus any accrued interest is transferred to the charter school. Repeals the restriction on transferring supplemental tax revenue outside of the tax district, which allows funds to follow the student.
Enacts new subsection (c) to this section to detail the information that must be provided to charter schools on the calculating of the charter school's share of the local current expense fund.
Enacts new subsection (d) to this section to provide for the award of attorneys'fees andcosts to the prevailing party in an action to enforce the transfer of funds from LEAs to charter schools. Directs the court to order any delinquent funds, costs, fees, and interest to be paid in equal monthly installments with a time for payment in full no later than three years from the entry of the judgment.
Adds a new subsection (m) to GS 143B-426.40A,making a conforming change to create an exception that allows a charter school to assign state funds for operational loans under GS 115C-238.29H, as amended in this act.
Amends the title.
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