A.__A school board; or

B.__An officially recognized unit of the University of Maine System or one of its universities, the Maine Community College System or one of its colleges or the Maine Maritime Academy.

For purposes of this chapter, unless the context otherwise indicates, "chartering authority" means one of the entities in paragraphs A and B.

2.__Approval by chartering authority.__A school may not operate as a charter school unless approved by a chartering authority.__A charter must be approved for a renewable 5-year term, with a major review for compliance with the terms of the charter prior to each renewal.__A charter may be approved for a school beginning with one or more grades from preschool to high school, including alternative secondary programs for students requiring basic literacy training up to 20 years of age.__A school board may approve the conversion of an existing public school to a charter school only in its own jurisdiction.__Only one school board may be the chartering authority for a charter school that is a regional collaboration between 2 or more school administrative units.

3.__Approval criteria.__A school board or an officially recognized unit of a public postsecondary education institution that wishes to be a chartering authority shall establish criteria for approval and a time frame for applications to start a charter school.__Criteria established by a chartering authority must include, but are not limited to, statement of purpose, size, scope, funding, goals and outcomes, governance and operational structure, accountability, the manner in which the charter school will complement the school administrative unit's existing educational program and the extent to which sufficient public interest has been demonstrated to warrant the establishment of the charter school.__If a proposal for a charter school meets the criteria established by a chartering authority, the charter school is presumed to be eligible for authorization.

4.__Oversight.__A chartering authority is responsible for:

A.__Establishing a process for receiving and reviewing applications for charter schools on an annual or semiannual basis, taking into account the deadlines required by the United States Department of Education for applications for the federal charter school grant program.__A decision on a