House committee substitute makes the following changes to the 3rd edition.

Amends GS 115C-238.29H(c) to require a local school administrative unit (LEA) to provide each charter school to which the LEA transfers a per-pupil share of its local current expense fund with any additional records (was, additional information) the charter school requests from the LEA for use in auditing and verifying the calculation and transfer of the per-pupil share of the local current expense fund. Makes a conforming change to the bill title.

Clarifies that the State Board of Education (SBE) is required to develop a competitive bid process for the assumption of a charter school by a new entity if the charter school shows inadequate performance and could have its charter terminated or not renewed by the SBE.

Clarifies that provisions in Section 6.5 of this act which direct or require action on the part of existing charter schools are expressly directed to the board of directors of the charter school. Requires the SBE to ensure that the decision on whether to grant a charter via a fast-track replication process be made in less than 150 days (was, 120 days).