Okla. Stat. tit. 70, § 70-3-144: Charter Schools Incentive and Closure Reimbursement

Fund.

A. There is hereby created in the State Treasury a fund to be

designated the “Charter Schools Incentive and Closure Reimbursement

Fund”. The fund shall be a continuing fund, not subject to fiscal

year limitations, and shall consist of all monies appropriated by

the Legislature, gifts, grants, devises, and donations from any

public or private source, and all monies received by the Statewide

Charter School Board from charter schools pursuant to subsection G

of Section 3-142 of this title. The Statewide Charter School Board

shall administer the fund for the purpose of providing financial

support to charter school and virtual charter school applicants,

charter schools and virtual charter schools for start-up costs,

costs associated with renovating or remodeling existing buildings

and structures for use by a charter school, and for paying

expenditures incurred due to closure of a charter school. The

Statewide Charter School Board is authorized to allocate funds on a

per-pupil basis for purposes of providing matching funds for the

federal State Charter School Facilities Incentive Grants Program

created pursuant to the No Child Left Behind Act of 2001, 20 U.S.C.,

Section 7221d.

B. The Statewide Charter School Board shall adopt rules to

implement the provisions of this section including application and

notification requirements.