(A)

in paragraph (1)(C), by striking and after the semicolon; and

(B)

by striking paragraph (2) and inserting the following:

(2)

(A)

provide technical assistance to eligible applicants and authorized public chartering agencies in carrying out the activities described in paragraph (1);

(B)

work with authorized public chartering agencies in the State to improve authorizing quality, including developing capacity for, and conducting, fiscal oversight and auditing of charter schools; and

(C)

at the State entity’s discretion—

(i)

fund a revolving loan fund or similar mechanisms for expenses under subsection (h) prior to an eligible applicant receiving reimbursement; and

(ii)

provide assistance to eligible applicants in locating and accessing a facility; and

(3)

provide pre-charter planning subgrants (in amounts of no more than $100,000 per prospective applicant) to charter school developers that—

(A)

intend to submit an application—

(i)

to an authorized public chartering agency to operate a charter school; or

(ii)

to nonprofit or public entities for the provision of financial support to such developers;

(B)

are led by educators who—

(i)

have not less than 54 months of school-based experience (which may include experience in teaching in or administering after school or summer school programs); and

(ii)

have demonstrated leadership competencies and success with students, as determined by the State entity; and

(C)

have successfully completed the development of an initial plan for opening a charter school, as evidenced by a description of the educational needs of the community in which the proposed charter school will be located and how the proposed charter school will be suited to meet those needs.;

(A)

in subparagraph (A), by striking 90 percent and inserting 80 percent;

(B)

in subparagraph (B)—

(C)

by redesignating subparagraph (C) as subparagraph (D);

(D)

in subparagraph (D), as so redesignated, by striking 3 percent and inserting 5 percent; and

(E)

by inserting after subparagraph (B) the following:

(C)

reserve not more than 5 percent of such funds to carry out the activities described in subsection (b)(3); and;

(A)

in the matter preceding subclause (I), by inserting under subsection (b)(1) after program; and

(B)

in subclause (II), by striking subgrant funds under this section and inserting subgrant funds under subsection (b)(1); and