Federal funds shall be distributed to charter public schools by the department of elementary and secondary education through a process which requires each charter public school seeking such funds to submit a grant application to the department of elementary and secondary education. The grant application process shall be established and implemented by the Rhode Island department of elementary and secondary education. State funds for charter public schools start up costs. In the event that federal funds are either unavailable or are fully expended there shall be established a system of interest free loans for start up costs for charter public schools to be provided from an appropriation of state funds designated by the legislature for this purpose. Such state funds shall be distributed to charter public schools by the department of elementary and secondary education through a process which requires each charter public school seeking such funds to submit a loan application to the department of elementary and secondary education.
Facilities support for charter public schools.
Charter public schools eligible for funding. For purposes of this chapter a charter public school shall be all schools as defined in chapter 77 of title 16 and shall also include the Urban Collaborative Accelerated Program, the Textron Chamber of Commerce Academy and the Times 2 Academy. This act shall take effect July 1, 1999. This act would add a new chapter to the general laws for the purpose of establishing a funding mechanism for charter public schools. This act would take effect July 1, 1999.