Senate Bill 1019 aims to amend various sections of the Tennessee Code Annotated to enhance the funding framework for public charter schools. Key changes include the addition of "or public charter school" in multiple sections to ensure that charter schools are explicitly included in the funding and reporting processes. The bill also revises the allocation of funds generated by students, stipulating that while the funding must be administered by the local education agency (LEA), the state share for public charter school students will be allocated directly to the charter schools rather than the LEA.

Additionally, the bill mandates the development of a standardized financial accounting and reporting system for public charter schools, ensuring transparency and accountability in the use of funds. It outlines specific funding allocations from local boards of education to charter schools, including local student-generated funds and federal allocations. The bill emphasizes that LEAs must include the per pupil amount of local funds they will pass through to charter schools in their budgets and adjust payments based on changes in revenue and student membership. The provisions of the bill are set to take effect upon becoming law, with certain sections having a delayed implementation date of July 1, 2025.

Statutes affected:
Introduced: 49-3-103(d)(3), 49-3-103, 49-3-105, 49-3-316, 49-13-112