Download This Version in Microsoft Word format
TO AMEND SECTION 59-40-140(B) OF THE 1976 CODE, RELATING TO THE DISTRIBUTION OF STATE FUNDS TO CHARTER SCHOOLS, TO PROVIDE THAT FOR EACH STUDENT WHO TRANSFERS FROM A FAILING PUBLIC SCHOOL TO A CHARTER SCHOOL, THE WEIGHTED PUPIL AMOUNT OF ALL ATTRIBUTABLE FUNDS MUST BE TRANSFERRED TO THE CHARTER SCHOOL.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 59-40-140(B) of the 1976 Code is amended to read:
"(B) The South Carolina Public Charter School District shall receive and distribute state funds to the charter school as determined by the following formula: the current year's base student cost, as funded by the General Assembly, multiplied by the weighted students enrolled in the charter school, which must be subject to adjustment for student attendance and state budget allocations. Except that for each student that transfers to the charter school from a failing public school, the South Carolina Public Charter School district shall receive and distribute to the charter school the weighted pupil amount of all state, county, and school district funds attributable to the transferring student. For purposes of this section, a 'failing public school' means a public school in the State that has received a rating of 'below average' or 'unsatisfactory' as its absolute grade on its most recent annual report card under the Education Accountability Act. These state funds are in addition to other funds to be received and distributed by the South Carolina Public Charter School District pursuant to subsections (C) and (D) of this section and Section 59-40-220(A). However, the South Carolina Public Charter School District may not retain more than two percent of its gross revenue for its internal administrative and operating expenses."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on Monday, June 22, 2009 at 3:10 P.M.