Local Education Agencies - As introduced, allows an LEA or public charter school to elect not to receive a letter grade for one or more of its schools by notifying the commissioner of education, in writing, of its decision to opt out of such requirements; allows, instead of requires, an LEA or public charter school to retain certain students in fourth grade if the student's LEA or public charter school determines that retention may benefit the student. - Amends TCA Title 49.