Current law provides for state and local funds for charter schools and directs the local school administrative unit in which a child resides to transfer an amount that is equal to the per-pupil share allocated to the local unit for that child to the charter school that the child attends, within 30 days of receipt of the money by the local unit into the local current expense fund.

Amends GS 115C-218.105 to provide for a 5 percent penalty paid to the prevailing party in a dispute as to the timeline under which the funds should have been transferred. Applies to any actions filed on or after the date this act becomes law.