Sec. 3. Program authorized
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Section 5202 of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 7221a ) is amended— in subsection (a)— by striking State educational agencies and inserting eligible entities ; by striking such agencies and inserting such entities ; and by striking this subpart and inserting section 5204 ; in subsection (b)— by striking and inserting the following: Special rule .—If Special rule; reserve account .— If ; by striking a State educational agency and inserting an eligible entity ; by striking subpart and inserting section ; and by adding at the end the following:
In order to assist eligible entities to accomplish the purposes described in section 5201, an eligible entity receiving a grant under this section shall, directly or indirectly, alone or in collaboration with others, deposit the funds received under this section in a reserve account established and maintained by the eligible entity for this purpose, in accordance with State and local law. Funds received under this section that are deposited in the reserve account established under subparagraph (A), shall be invested, to the extent practicable, in obligations issued or guaranteed by the United States or a State, or in other similarly low risk securities, in the same manner as funds of a State are invested under chapter 65 of title 31, United States Code.
Any earnings on funds received under this section shall be deposited in a reserve account and used in support of public charter schools in accordance with activities authorized under this Act. ; in subsection (c)— by striking subpart each place the term occurs and inserting section ; in paragraph (1)— in the paragraph heading, by striking and inserting states ; eligible entities by striking State educational agencies and inserting eligible entities ; and by striking not more than 3 years and inserting not more than 5 years ; and in paragraph (2)— by striking State educational agencies and inserting eligible entities ; and by striking not more than 3 years and all that follows through the period at the end and inserting not more than 5 years.
An eligible applicant may use a portion of the grant period for planning and program design. ; by striking subsection
(d)and inserting the following: The Secretary shall allow an eligible entity to award multiple subgrants under section 5204(f)(1) to an eligible applicant in order to support multiple campuses of a charter school. ; in subsection (e)— by striking paragraph
(1)and inserting the following: In awarding grants under this section for fiscal year 2013 or any succeeding fiscal year from any funds appropriated under section 5212 (other than funds reserved to carry out section 5205(c)), the Secretary shall give priority to an eligible entity to the extent that the State in which the eligible entity proposes to carry out the activities under the grant meets the criteria described in paragraph
(2)and one or more of the criteria described in subparagraphs
(A)through
(H)of paragraph (3). ; in paragraph (3)— in subparagraph (A)— by striking a State educational agency and inserting an eligible entity ; and by striking subpart and inserting section ; by redesignating subparagraph
(C)as subparagraph (D); in subparagraph (B)— by redesignating clause
(ii)as subparagraph (C), and aligning the margins of such subparagraph with the margins of subparagraph (A); by striking The State and all that follows through provides and inserting The State provides ; and by striking law; or and inserting law. ; in subparagraph
(C)(as redesignated by clause (iii)(I)), by striking in the case and all that follows through allows and inserting The State allows ; in subparagraph
(D)(as redesignated by clause (ii))— by striking school has a and inserting “school has— a ; by striking expenditures. and inserting expenditures; and ; and by adding at the end the following: an independent governing board that enters into a written performance contract with an authorized public chartering agency. ; and by adding at the end the following: The State— provides public charter schools with funding commensurate with the funding provided to other public schools, including capital or facilities aid distributed through a formula or revenue generated by bonds; and ensures that the State educational agency and local educational agencies provide public charter schools with the Federal, State, and local funds to which the public charter schools are entitled in a timely manner. The State makes it a priority to create charter schools in local educational agencies with large numbers of schools designated as in need of improvement, corrective action, or restructuring under paragraph (1), (7), or
(8)of section 1116(b). The State has developed a transparent authorizer accreditation, training, or review process for evaluating the effectiveness and quality of the State’s authorized public chartering agencies, or each authorized public chartering agency in the State has implemented such a process, including— a process for reviewing and evaluating the performance of the authorized public chartering agencies in the State in authorizing or approving public charter schools, including a process that enables the authorized public chartering agencies to respond to any State concerns or deficiencies regarding such authorizing or approving; and any other necessary policies to ensure effective charter school authorizing in the State that are developed in conjunction with the State’s charter school community and in accordance with the principles of high quality charter school authorizing, as determined by the State in consultation with the charter school community and stakeholders. The State does not have a cap on charter schools that constrains growth and limits parental options in an unreasonable manner. ; and in subsection (f)— by striking subpart to a State educational agency and inserting section to an eligible entity ; and by striking in the State. and inserting in the State where the grant activities will be carried out. .
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Sec. 3
Program authorized
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