(2)__Each postsecondary chartering authority registered pursuant to paragraph B may approve no more than 2 charter schools per year;

(3)__Each local school board acting as a chartering authority may approve no more than 2 charter schools per year; and

(4)__No more than 10 charter schools statewide may be approved per year during the initial phase.

B.__To enforce the limits set out in paragraph A, the state board shall:

(1)__Register the postsecondary chartering authorities in the order they submit letters of intent to become chartering authorities until November 1st of each year; and

(2)__Register the charters granted by all chartering authorities in the order they are approved.__By December 10th of each year, chartering authorities shall inform the state board of charters they have granted that calendar year.__Once the cap of 10 charters per year is reached, the state board may not consider further registrations.

6.__Phase 2.__Phase 2 of the charter school program, established in section 2411, follows the initial phase described in subsection 5.

A.__During phase 2 the following limits apply:

(1)__Each postsecondary chartering authority registered pursuant to paragraph B may approve no more than 5 charter schools each calendar year; and

(2)__No more than 20 charter schools may be approved statewide each calendar year.

B.__To enforce the limits set out in paragraph A, the state board shall:

(1)__Register all new postsecondary chartering authorities in the order they submit letters of intent