Amends GS 115C-218.5(e) concerning enrollment growth as a material revision of the charter application, providing that the State Board of Education, in its discretion, may approve enrollment growth greater than 20% by considering the specified factors (previously, was required to find all of the specified factors existed). Deletes the requirement that the State Board must find that it is otherwise appropriate to approve enrollment growth in lieu of language that provides that it must consider any other factor it deemed relevant. Effective beginning with the 2015-16 school year.

Amends GS 115C-218.95(b) concerning the adoption of criteria for adequate performance by a charter school, providing that the criteria must include a requirement that a charter school that receives an overall performance grade, calculated pursuant to GS 115C-83.15, of an "F" in any two years in a three-year period is inadequate (previously, included a requirement that a charter school that demonstrated no growth in student performance and had annual performance composites below 60% in any two years in a three-year period was inadequate). Adds language that provides that in cases where the State Board of Education is authorized to terminate or seek applicants to assume the charter school and the school has had a charter for more than five years, the State Board of Education cannot terminate or not renew an inadequate charter for inadequate performance if the academic achievement is comparable to the traditional public school located within a local school administrative unit within a 20 mile radius of the charter school's location or if the school has implemented a strategic plan and is making measurable progress toward adequate student performance goals. Effective beginning with the 2015-16 school year.

Amends GS 115C-218.5(d) to provide that the State Board of Education can renew the charter upon the request of the chartering entity for subsequent periods not to exceed 10 years each (was, periods of 10 years each). Further provides that any renewal must be for a period of 10 years unless one of the specified conditions apply (was, could be for less than 10 years if any of the conditions applied). Applies to any renewal of a charter on or after the date this act becomes law.

Requires the State Board of Education to adopt a process and rules for replication of high-quality charter schools that meet certain requirements, by September 15, 2015. Directs the State Board of Education to report to the Joint Legislative Oversight Committee by November 15, 2015, in regards to the process and rules for charter school replication.