GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1997

S	1 

SENATE BILL 274*

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

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Sponsors: Senator Gulley.

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Referred to:  Appropriations.

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March 3, 1997

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 one million five hundred thousand dollars ($1,500,000) for the 1997-98 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, 1997.