CO SB121

Charter schools must notify their authorizer at least four months (instead of three) prior to applying for state financial assistance for capital construction projects.

Created a charter school matching moneys loan program allowing eligible charter schools to borrow up to 50 percent of required matching funds, with loans included in lease-purchase agreements and repaid through state fund withholding.

Modified matching fund requirements for charter schools to use weighted average match percentages from school districts of residence for district charter schools or 50 percent for institute charter schools, rather than comparing per-pupil expenditures.

Allowed charter schools to apply alone or in consortiums for competitive grants with the state charter school institute acting as local education agency and fiscal agent for grant management and liability purposes.

Established continuous appropriation for state charter school institute fund and created administrative overhead account with requirement to refund excess amounts exceeding 10 percent of total adjusted per-pupil revenues to individual schools on per-pupil basis.