Repeals Section 7A.3(e) of SL 2012-142, which added a new subsection to GS 115C-238.29F to require a charter school to insure that thereis wide public distribution of its report card issued by the State Board of Education (SBE)and to notify the parent or guardian of all students if the charter school receives a grade of D or F.

Enacts new GS 115C-83.11 to providecriteria to be used by the SBE in calculating school performance scores, grades, and indicators of student growth as requiredby GS 115C-12(9)c1.Specifies the data to be used in calculating the performancegrade for schools servingstudents in any combination of grades three through eight, and specifies the five indicators to be averaged in calculating the performance grade for schools serving students in any combination of grades nine through twelve. Provides for an increase of the final letter grade for the school by one value for a school that meets or exceeds growth as determined by the Education Value-Added Assessment System (EVAAS). Provides additional criteria regarding the impact of specified levels of achievement on the final grade issued to a school for performance. Directs the SBE to proportionally adjust the performance scale to account for the awarding of a performance grade to a school that does not have a measure of one of the school performance elements annually assessed for the grades taught at that school. Requires the SBE to report any adjustments to the calculation and the distribution of the school performance grades to the Joint Legislative Education Oversight Committee annually by January 15. Makes a conforming change to GS 115C-12(9)c1.

Effective when the act becomes law and applies beginning with the 2013-14 school year.Directs the SBE to issue the first annual report cards under new GS 115C-12(9)c1., as amended by this act, no earlier than August 1, 2014.