NC H761

Authorizes counties to provide capital funds directly to charter schools for acquisition of real property, construction and renovation of buildings, and equipment purchases.

Requires capital funds provided by counties to be secured by a promissory note and deed of trust on the property acquired or improved with those funds.

Specifies that upon charter school dissolution, capital assets purchased with county funds revert to the providing county or counties, divided proportionally if multiple counties contributed.

Allows counties to levy property taxes up to $1.50 per $100 appraised value for charter school capital funding purposes.

Permits counties to subordinate deeds of trust to other liens to facilitate property acquisition and to release liens once the charter school repays the capital funds provided.