Relating to modifying the Charter Schools Startup Fund

The purpose of this bill is to modify the Charter Schools Startup Fund; change the name of the fund; require submission of application to the West Virginia Professional Charter School Board in order to receive funds from the Charter Schools Startup Fund; require notice to potential applicants; require certain contents be included in application; expand the uses for the funds; require distribution of money to qualifying charter school applicants and charter schools, subject to availability of funding; allow the West Virginia Professional Charter School Board to establish competitive process when the number of applicants exceed funding; eliminate criteria an applicant must demonstrate as a condition of receiving funds; modify time frame for distribution of funds; require repayment in certain circumstances; and specify the manner of distribution.