21-3-302.1. Charter school authorizers. [Note: this section is effective as of 7/1/2022.]
(a) Authorizers shall:
(i) Review charter school applications made to the authorizer and make a written determination on the application;
(ii) Monitor charter schools approved by the authorizer;
(iii) Make decisions on the renewal, nonrenewal and revocation of charters granted by the authorizer.
(b) Funding for authorizers shall consist of administrative fees collected from the charter school. Fees shall not exceed three percent (3%) of the charter school's annual state funding.
(c) The state loan and investment board shall, subject to the limitation in subsection (b) of this section, establish administration fees necessary to recover the incremental costs of the department of education related to the approval and monitoring of charter schools under this article. Administrative fees collected by the state loan and investment board pursuant to this subsection shall be deposited in the school foundation program account.