Grants for charter school start-up costs.

(1) (a) The State Charter School Board shall use money appropriated for charter school start-up costs to provide grants to charter schools to pay for expenses for the planning and implementation of a charter school. (b) The State Charter School Board: (i) may use up to 8% of the money appropriated for charter school start-up costs for financial monitoring of new charter schools and to provide professional development or technical assistance for charter school governing board members and staff of new charter schools; and (ii) in accordance with rules adopted by the state board, may use up to $200,000 of the money appropriated for charter school start-up costs for a mentoring program for new and existing charter schools. (2) The amount of a grant for charter school start-up costs shall be based on the authorized enrollment of the charter school. (3) The state board shall make rules consistent with this section specifying: (a) procedures for applying for and awarding grants for charter school start-up costs; (b) permitted uses of grant money; and (c) requirements for a charter school to submit the following to the State Charter School Board: (i) a budget for the grant money; and (ii) a final report on the expenditure of the grant money. (4) The state board shall make rules establishing a mentoring program for new and existing charter schools.