(a)
(1) An open-enrollment public charter school shall receive funds equal to the amount that a public school would receive under § 6-20-2305(a) and (b) as well as any other funding that a public charter school is entitled to receive under law or under rules promulgated by the State Board of Education.
(2)
(A) For the first year of operation, the first year operating under a new license, the first year adding a new campus, and in any year a grade is added at any campus, the foundation funding and enhanced educational funding for an open-enrollment public charter school is determined as follows:
(i) The initial funding estimate shall be based on enrollment as of July 1 of the current school year;
(ii) In December, funding will be adjusted based upon the first quarter average daily membership; and
(iii) A final adjustment will be made after the current three-quarter average daily membership is established.
(B) For the second year and each school year thereafter, the previous year's average daily membership will be used to calculate foundation funding and any enhanced educational funding amounts.
(3) Enhanced Student Achievement Funding under § 6-20-2305(b)(4) shall be provided to an open-enrollment public charter school as follows:
(A) For the first year of operation, the first year operating under a new license, the first year adding a new campus, and in any year when a grade is added at any campus, free or reduced-price meal eligibility data as reported by October 1 of the current school year will be used to calculate the Enhanced Student Achievement Funding under the state board rules governing special needs funding; and
(B) For the second year and each school year of operation thereafter, the previous year's October 1 national school lunch student count as specified in state board rules governing special needs funding will be used to calculate Enhanced Student Achievement Funding for the open-enrollment public charter school.
(4) Professional development funding under § 6-20-2305(b)(5) shall be provided to an open-enrollment public charter school for the first year of operation, the first year operating under a new license, the first year adding a new campus, and in any year in which a grade is added at any campus as follows:
(A) In the first year of operation the open-enrollment public charter school shall receive professional development funding based upon the initial projected enrollment student count as of July 1 of the current school year multiplied by the per-student professional development funding amount under § 6-20-2305(b)(5) for that school year; and
(B) For the second year and each school year thereafter, professional development funding will be based upon the previous year's average daily membership multiplied by the per-student professional development funding amount for that school year.
(5) The Division of Elementary and Secondary Education shall distribute other categorical funding under § 6-20-2305(a) and (b) for which an open-enrollment public charter school is eligible as provided by state law and rules promulgated by the state board.
(6) An open-enrollment public charter school shall not be denied foundation funding, enhanced educational funding, or categorical funding in the first year or any year of operation provided that the open-enrollment public charter school submits to the division the number of students eligible for funding as specified in applicable rules.
(7) Foundation funding for an open-enrollment public charter school shall be paid in twelve (12) installments each fiscal year.
(b) An open-enrollment public charter school may receive any state and federal aids, grants, and revenue as may be provided by law.
(c) Open-enrollment public charter schools may receive gifts and grants from private sources in whatever manner is available to public school districts.