Bill Summaries: H291 (2013-2014 Session)

Tracking:
  • Bill H 291 (2013-2014)
    Summary date: Mar 12 2013 - View summary

    Amends GS 115C-238.29H to require the State Board of Education to establish a revolving loan fund to provide interest-free start up funds, of no more than $25,000, to a charter school granted an initial charter. Requires the loan to be repaid in 12 equal monthly installments beginning in the month in which the initial allocation is made; if the school does not begin operation or operate for the full 12 months, the nonprofit must repay the remaining loan amounts over the same time period. Makes a conforming change to GS 115C-238.29D.

    Appropriates $1.575 million for 2013-14 and $1.575 million for 2014-15 from the General Fund to the State Board of Education for the revolving loan fund.

    Effective July 1, 2013.
    Budget/Appropriations, Elementary and Secondary Education, State Board of Education
    APPROP, GS 115C

© 2022 School of Government The University of North Carolina at Chapel Hill

This work is copyrighted and subject to "fair use" as permitted by federal copyright law. No portion of this publication may be reproduced or transmitted in any form or by any means without the express written permission of the publisher. Distribution by third parties is prohibited. Prohibited distribution includes, but is not limited to, posting, e-mailing, faxing, archiving in a public database, installing on intranets or servers, and redistributing via a computer network or in printed form. Unauthorized use or reproduction may result in legal action against the unauthorized user.