AL SB540

Establishes the Legislative School Performance Recognition Program within the State Department of Education to reward public K-12 schools demonstrating high achievement or exemplary progress.

Eligible schools must be ranked in the school grading system and qualify by either ranking in the top 25 percent of public schools or improving their overall annual ranking by at least one letter grade.

State Superintendent of Education must prescribe program guidelines by December 31, 2013, but implementation cannot begin until administrative rules are promulgated and the school grading system completes its second academic year.

Selected schools receive financial awards on a competitive basis with no more than 20 percent of total appropriation going to top 25 percent schools and remaining amounts to schools showing exemplary progress.

Award-eligible schools gain exemption from state statutes and regulations regarding prescribed use of funds and categorical spending requirements, except those tied to federal funding.