Sec. 6. The department may authorize money in the fund to be used for any of the following purposes:

(1) To pay first semester costs for charter schools first opening after June 30, 2011.

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(2) To repay advances and loans to charter schools made before June 30, 2011.

(3) To match federal grants described in IC 20-24-7-11(a).

(4) To loan or grant money from the fund to a charter school to carry out the purposes described in section 2 of this chapter.

As added by P.L.91-2011, SEC.25.