Deletes everything after the enacting clause. Amends the School Code. With respect to the Charter Schools Law, makes changes concerning the number of charter schools that may operate at any one time, charter schools for high school dropouts, requiring a charter school to submit to the State Board of Education a copy of its audit and Form 990, the State Board's certification of a charter proposal, revocation of a charter, charter school employees, the State Board's report to the Governor and the General Assembly on its findings, and an Independent Charter School Authorizer Task Force. With respect to the Chicago School District Article, makes changes concerning contract schools and contract turnaround schools and changes a reference from "school building" to "attendance center". Provides that the non-State agency parties that engaged in the negotiation of the Act shall, within 30 days after the effective date of the Act, enter into a memorandum of understanding, which shall include without limitation language whereby, through June 30, 2013, and subject to any legislative changes required by federal law, such parties shall not propose any changes to the Charter Schools Law other than legislation to establish an independent, State-level, charter school authorizing entity. Effective immediately.