GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1997

S	1 

SENATE BILL 1386

Short Title:  Charter School Start-Up Funds.	(Public)

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Sponsors: Senators Gulley; and Hartsell.

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Referred to:  Appropriations.

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May 27, 1998

A BILL TO BE ENTITLED
AN ACT TO APPROPRIATE FUNDS TO ASSIST APPROVED CHARTER SCHOOLS TO MEET THEIR START-UP COSTS.
The General Assembly of North Carolina enacts:
Section 1.  There is appropriated from the General Fund to the State Board of Education the sum of two million dollars ($2,000,000) for the 1998-99 fiscal year for the State Board to establish and implement a program that provides grants or loans to charter schools for whom charters are approved.  The State Board shall determine the amount of each grant or loan; however, no charter school shall receive more than fifty thousand dollars ($50,000).  Each grant or loan shall be used during the first year after the charter has been approved.  The grant or loan shall be used for one-time costs or expenses related to starting the school.
Section 2.  This act becomes effective July 1, 1998.