Page:United States Statutes at Large Volume 115 Part 2.djvu/810

 115 STAT. 1794 PUBLIC LAW 107-110—JAN. 8, 2002 "(B) initial implementation of the charter school, which may include— "(i) informing the community about the school; "(ii) acquiring necessary equipment and educational materials and supplies; "(iii) acquiring or developing curriculum materials; and "(iv) other initial operational costs that cannot be met from State or local sources. "(4) ADMINISTRATIVE EXPENSES.— " (A) STATE EDUCATIONAL AGENCY ADMINISTRATIVE EXPENSES. —Each state educational agency receiving a grant pursuant to this subpart may reserve not more than 5 percent of such grant funds for administrative expenses associated with the charter school grant program assisted under this subpart. "(B) LOCAL ADMINISTRATIVE EXPENSES.— ^A local educational agency may not deduct funds for administrative fees or expenses from a subgrant awarded to an eligible applicant, unless the eligible applicant enters voluntarily into a mutually agreed upon arrangement for administrative services with the relevant local educational agency. Absent such approval, the local educational agency shall distribute all such subgrant funds to the eligible applicant without delay. "(5) REVOLVING LOAN FUNDS.—Each State educational agency receiving a grant pursuant to this subpart may reserve not more than 10 percent of the grant funds for the establishment of a revolving loan fund. Such fund may be used to make loans to eligible applicants that have received a subgrant under this subpart, under such terms as may be determined by the State educational agency, for the initial operation of the charter school grant program of the eligible applicant until such time as the recipient begins receiving ongoing operational support from State or local financing sources. "(6) DISSEMINATION. — "(A) IN GENERAL.—^A charter school may apply for funds under this subpart, whether or not the charter school has applied for or received funds under this subpart for planning, program design, or implementation, to carry out the activities described in subparagraph (B) if the charter school has been in operation for at least 3 consecutive years and has demonstrated overall success, including— "(i) substantial progress in improving student academic achievement; "(ii) high levels of parent satisfaction; and "(iii) the management and leadership necessary to overcome initial start-up problems and establish a thriving, financially viable charter school. "(B) ACTIVITIES. —^A charter school described in subparagraph (A) may use funds reserved under paragraph (1) to assist other schools in adapting the charter school's program (or certain aspects of the charter school's program), or to disseminate information about the charter school, through such activities as— "(i) assisting other individuals with the planning and start-up of one or more new public schools.

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