- A. There is hereby created in the State Treasury a fund to be designated the "Charter Schools Incentive Fund." The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies appropriated by the Legislature, gifts, grants, devises and donations from any public or private source. The State Department of Education shall administer the fund for the purpose of providing financial support to charter school applicants and charter schools for start-up costs and costs associated with renovating or remodeling existing buildings and structures for use by a charter school.
- B. The State Board of Education shall adopt rules to implement the provisions of this section, inlcuding application and notification requirements.
Laws 1999, c. 351, § 16, emerg. eff. June 8, 1999.