1. (a) As requested by the applicant for an open-enrollment public charter school, the authorizer shall review the application for an open-enrollment public charter school and may approve any application that:

   1. (1) Provides a plan for academic achievement that addresses how the open-enrollment public charter school proposes to:

      1. (A) Improve student learning; and
      2. (B) Meet the state education goals;
   2. (2) Includes a set of performance criteria that will be used during the initial five-year period of the open-enrollment public charter school’s operation to measure its progress in meeting its academic performance goals;
   3. (3) Includes a proposal to directly and substantially involve the parents of students to be enrolled in the open-enrollment public charter school, the licensed employees, and the broader community in carrying out the terms of the open-enrollment charter;
   4. (4) Includes an agreement to provide an annual report to parents, the community, and the authorizer that demonstrates the progress made by the open-enrollment public charter school during the previous academic year in meeting its academic performance objectives;
   5. (5) Includes a detailed budget, a business plan, and a governance plan for the operation of the open-enrollment public charter school; and
   6. (6) Establishes the eligible entity’s status as a tax-exempt organization under § 501(c)(3) of the Internal Revenue Code of 1986 prior to the first day of its operation with students.
2. (b) The authorizer may also designate an open-enrollment public charter school as a community school as defined by Arkansas Code § 6-15-3002 provided that the school has met the requirements of 6 CAR § 31-401(f)(7).

Codification Notes: 501(c)(3) of the Internal Revenue Code of 1986 is codified at 26 U.S.C. § 501(c)(3).