Part I.

Requires the State Board of Education (State Board) to approve an application to substitute the partner institution of higher education from the 2023-24 school year for the Wake Young Men's Leadership Academy and the Wake Young Women's Leadership Academy (Academies) with a new partner of higher education, beginning as early as the 2024-25 school year, if: (1) the Wake County board of education and the applicable governing board of the partner institution submit an application and (2) the State Board determines that the partner institution complies with requirements under Part 9 (Cooperative Innovative High School Programs) of Article 16 of GS Chapter 115C. Provides that if the application for the substitution of a partner institution is approved by the State Board, then beginning with the fiscal year in which the approval occurs, the Academies will continue to receive the recurring State funds that were appropriated in the 2023-24 fiscal year.

Part II.

Appropriates $111,484 in recurring funds from the General Fund to the Department of Public Instruction for 2024-25 to address a shortfall in funds for tuition payments needed for cooperative innovative high schools in the State. Effective July 1, 2024.