(1) (a) and (a.5) Repealed.
(a.7) (I) For the 2003-04 budget year and each budget year thereafter, a qualified charter school, as defined in section 22-54-124 (1)(f.6), shall receive state education fund moneys from the school district that granted its charter in an amount equal to the percentage of the district's certified charter school pupil enrollment that is attributable to pupils expected to be enrolled in the qualified charter school multiplied by the total amount of state education fund moneys distributed to the district for the same budget year pursuant to section 22-54-124 (3).
(II) As used in this paragraph (a.7), "pupils" means pupils, other than pupils enrolled in an online program or online school, as defined in sections 22-30.7-102 (9) and 22-30.7-102 (9.5), who are enrolled in a charter school.
Funding received pursuant to paragraph (a), (a.5), or (a.7) of this subsection (1) shallbe in addition to any funding provided pursuant to section 22-30.5-112.
A district shall provide funding to each qualified charter school, as defined in section22-54-124 (1)(f.6), by making a monthly payment to the qualified charter school as soon as possible after the district receives a monthly payment of state education fund moneys pursuant to section 22-54-124 (4).
(2) (a) A charter school shall use moneys it receives pursuant to subsection (1) of this section solely for capital construction, as defined in section 22-54-124 (1)(a).
(b) Notwithstanding the provisions of section 22-30.5-112 (4.5), any moneys received by a charter school pursuant to subsection (1) of this section for the 2001-02 budget year that are not expended by January 31, 2003, shall be transferred back to the state education fund created in section 17 (4) of article IX of the state constitution.
Source: L. 2001: Entire section added, p. 348, § 10, effective April 16. L. 2002: (1)(a) and (1)(c) amended, p. 1751, § 27, effective June 7. L. 2003: (1)(a)(I), (1)(c), and (2) amended and (1)(a.5) added, p. 517, § 8, effective March 5; (1)(a)(I), (1)(b), and (1)(c) amended and (1)(a.7) added, pp. 2133, 2134, §§ 29, 30, effective May 22. L. 2006: (1)(a) and (1)(a.5) repealed and (1)(c) amended, p. 606, §§ 21, 22, effective August 7. L. 2007: (1)(a.7)(II) amended, p. 1090, § 20, effective July 1. L. 2010: (1)(c) amended, (HB 10-1013), ch. 399, p. 1896, § 1, effective June 10. L. 2012: (1)(a.7)(II) amended, (HB 12-1240), ch. 258, p. 1317, § 29, effective June 4.