NC H535

Appropriates $1,000,000 for fiscal year 2015-2016 and $1,000,000 for fiscal year 2016-2017 to the Department of Public Instruction for distribution to Parents for Educational Freedom in North Carolina, Inc. (PEFNC).

PEFNC shall use funds to establish a grant program through its North Carolina Public Charter School Accelerator (NC Accelerator) program supporting development of up to four charter schools per fiscal year.

Grant recipients must either meet State Board replication policy requirements (TCS-U-016) or be eligible for State Board approval for enrollment growth exceeding 20% under specified criteria in G.S. 115C-218.5.

PEFNC may provide grants up to $250,000 to recipients for initial planning periods, with funds remaining available across fiscal years without reversion.

PEFNC must submit annual reports to the Joint Legislative Education Oversight Committee by October 31 beginning in 2016, detailing program progress, expenditures, and grant recipient status.