Directs the State Board of Education (SBE) to establish a three-year Special Education Charter School Pilot Program (Pilot Program) by selecting one charter school in Wake County that has already been approved for the enrollment of students beginning with the 2014-15 school year to provide the educational services and programming for the Pilot Program. Provides that the purpose of the Pilot Program is to provide additional options for students with disabilities.

Sets out eligibility for schools to participate in the Pilot Program, including that the charter school's enrollment must include at least 80% or more of students with disabilities. Also sets out accreditation and licensing standards to be in the Pilot Program.

Requires the selected charter school to develop and implement an alternative accountability model that meets the guidelines adopted by the SBE for alternative learning programs. Provides that allotments and adjustments will be made as provided for in GS 115C-12(24). Also provides that after the first 60 days of the school year, the school will receive $2,000 per student for up to 100 students enrolled in the charter school.

Provides that charter schools meeting the criteria as provided can apply to participate starting with the 2015-16 school year, no later than July 1, 2015. The SBE must choose the participating school for the Pilot Program by August 1, 2015, for the 2015-16 through 2017-18 school years. 

Requires the SBE and the NC Charter School Advisory Board to jointly submit an interim report by March 15, 2016, and a final report by November 15, 2018, to the Joint Legislative Oversight Committee on the outcomes of the Pilot Program. Specifies what the report must contain, including the number of students with disabilities enrolled in the school and the results of the alternative accountability model. 

Requires the Joint Legislative Oversight Committee to provide an interim report to the 2016 Regular Session of the 2015 General Assembly on necessary legislation to transition the Pilot Program to alternative charter schools serving students with disabilities and a final report to the 2019 General Assembly.

Appropriates $200,000 from the General Fund to the Department of Public Instruction for the 2015-16 fiscal year and another $200,000 for the 2016-17 fiscal year to provide additional funding for students under the pilot program. Effective July 1, 2015.

Provides the Pilot Program will begin with the 2015-16 school year and conclude at the end of the 2017-18 school year.