SB 1128 – This act creates the Persistence to Graduation Fund. The Department of Elementary and Secondary Education will establish a procedure for school districts to apply for grants to implement drop-out prevention strategies. School districts must meet certain criteria described in the act to qualify for a grant, including not meeting the graduation rate indicated on its latest annual performance review, not having full accreditation, or having its latest annual performance review score consistent with an unaccredited or provisionally accredited classification. Grants will be awarded for one to five consecutive years. Upon expiration, a school district may apply for an extension. The Department of Elementary and Secondary Education must give preferences to school districts that propose a holistic approach to drop-out prevention as described in the act. The Department may stop payments to a district if it determines that the district is misusing funds or if the district's program is deemed ineffectual. The Department must provide written notice thirty days prior to cessation of funds. The Department must report annually to the General Assembly the recipients and amount of grants and data for the preceding five year for each recipient district. The General Assembly must annually appropriate an amount sufficient to properly fund this act, a minimum of five million dollars in any fiscal year.