Grants to support high-quality charter schools

Section 4303 of the Elementary and Secondary Education Act of 1965 (20 U.S.C. 7221b) is amended— (1) in subsection (b)— (A) in paragraph (1)(C), by striking and after the semicolon; (B) by striking the period at the end of paragraph (2) and inserting; and; and (C) by inserting after paragraph (2) the following: (3) provide assistance in locating and accessing a facility or provide one-time assistance to any planned or operating charter schools in the State in ensuring that a facility complies with local building codes and is equipped to support provision of a high-quality education.; (2) in subsection (c)(1)— (A) in subparagraph (A), striking 90 percent and inserting 80 percent; (B) by striking and after subparagraph (B); (C) by striking the period at the end of subparagraph (C) and inserting; and; and (D) by inserting after subparagraph (C): (D) reserve not more than 10 percent of such funds for the establishment of a revolving loan fund, which may be used to make loans, under such terms as may be established by the State entity, to— (i) eligible applicants that have received a subgrant under this section, for the initial operation (during the subgrantee’s project period) of the applicant’s charter school or schools; and (ii) eligible applicants for obtaining, renovating, or rehabilitating facilities for planned or operating charter schools in the State.; and (3) by striking paragraph (3) of subsection (h) and inserting: (3) Carrying out repair, renovation, or construction activity to ensure that a school building complies with applicable statutes and regulations and is equipped to support provision of a high-quality education..