North Carolina HB 1770: Charter School Grants/Matching Funds.

Bill Text

GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2003
H 1
HOUSE BILL 1770

Short Title: Charter School Grants/Matching Funds. (Public)
Sponsors: Representative Baker.
Referred to: Appropriations.
May 31, 2004

A BILL TO BE ENTITLED 1
AN ACT TO APPROPRIATE FUNDS TO MATCH FEDERAL FUNDS RECEIVED 2
BY THE STATE UNDER THE STATE CHARTER SCHOOL FACILITIES 3
INCENTIVE GRANTS PROGRAM. 4
The General Assembly of North Carolina enacts: 5
SECTION 1. Part 6A of Article 16 of Chapter 115C of the General Statutes 6
is amended by adding a new section to read: 7
"§ 115C-238.29L. Grant funds for charter school facilities. 8
The Reserve for Charter School Facilities is created as a special nonreverting fund. 9
The State Board of Education shall use funds in the Reserve to match federal funds 10
received by the State under the State Charter School Facilities Incentive Grants 11
Program. 12
The limitations on the use of State funds for charter school facilities set out in 13
G.S. 115C-238.29H(a1) do not apply to State funds used to match federal funds 14
received by the State under the State Charter School Facilities Incentive Grants 15
Program. These funds may be used to obtain any interest in charter school facilities that 16
is permissible under the terms of the grant. 17
No indebtedness of any kind incurred or created by a charter school shall constitute 18
an indebtedness of the State or its political subdivisions, and no indebtedness of the 19
charter school shall involve or be secured by the faith, credit, or taxing power of the 20
State or its political subdivisions. Every contract, lease, or other agreement into which a 21
charter school enters for the acquisition of charter school facilities shall include the 22
previous sentence." 23
SECTION 2. There is appropriated from the General Fund to the State 24
Board of Education the sum of one million dollars ($1,000,000) for the 2004-2005 fiscal 25
year for the Reserve for Charter School Facilities. 26
SECTION 3. This act becomes effective July 1, 2004. 27