(1) Subject to annual appropriations, the department shall distribute the moneys credited to the charter school facilities assistance account created in section 22-43.7-104 (2)(d) as provided in this section. A qualified charter school may use moneys received from the charter school facilities assistance account for capital construction purposes.

(2) (a) The department shall annually distribute the moneys credited to the charter school facilities assistance account based on each school district's certified charter school pupil enrollment and each institute charter school's certified pupil enrollment for the applicable fiscal year.

(b)

(I) Each school district that provides funding pursuant to section 22-30.5-112 or 22-30.5-112.1 to at least one qualified charter school in a fiscal year shall, for that fiscal year, receive an amount equal to the percentage of the total certified charter school pupil enrollment for all qualified charter schools statewide for the applicable fiscal year that is attributable to the district's certified charter school pupil enrollment, multiplied by the amount credited to the charter school facilities assistance account for the applicable fiscal year.

(II) A school district shall distribute the moneys received pursuant to this paragraph (b) to each qualified charter school of the school district in an amount equal to the percentage of the school district's certified charter school pupil enrollment that is attributable to pupils expected to be enrolled in the qualified charter school, multiplied by the total amount of moneys received by the school district pursuant to this paragraph (b) for the applicable fiscal year. The school district shall not retain any portion of the moneys received pursuant to this paragraph (b) to defray administrative expenses or for any other purpose.

(c)

(I) The state charter school institute, in each fiscal year in which it distributes moneys to at least one institute charter school that is a qualified charter school, shall, for that fiscal year, receive an amount equal to the percentage of the total certified charter school pupil enrollment for all qualified charter schools for the applicable fiscal year that is attributable to institute charter schools that are qualified charter schools, multiplied by the amount credited to the charter school facilities assistance account for the applicable fiscal year.

(II) The state charter school institute shall distribute the moneys received pursuant to this paragraph (c) to each institute charter school that is a qualified charter school in an amount equal to the percentage of the total institute charter school certified pupil enrollment that is attributable to pupils expected to be enrolled in the qualified institute charter school, multiplied by the total amount of moneys received by the state charter school institute pursuant to this paragraph (c) for the applicable fiscal year. The state charter school institute shall not retain any portion of the moneys received pursuant to this paragraph (c) to defray administrative expenses or for any other purpose.

(d) As used in this section:

(I) "Capital construction" has the same meaning as provided in section 22-54-124 (1)(a).

(II) "District's certified charter school pupil enrollment" has the same meaning as provided in section 22-54-124 (1)(c).

(III) "Institute charter school's certified pupil enrollment" has the same meaning as provided in section 22-54-124 (1)(c.5).

(IV) "Qualified charter school" has the same meaning as provided in section 22-54-124 (1)(f.6).

(V) "Total certified charter school pupil enrollment" means the pupil enrollment certified by the department pursuant to section 22-54-124 (3)(b).