Flexibility for Champion Schools Act - Amends the Elementary and Secondary Education Act of 1965, as amended by the No Child Left Behind Act of 2001 (ESEA), to direct the Secretary of Education to grant to any State a waiver of all ESEA provisions related to adequate yearly progress (AYP) if that State: (1) establishes academic content standards and tests in specified subjects at specified grades; (2) makes available to the public all such testing results, in the aggregate and disaggregated by certain groups of students, for each local educational agency (LEA) and school; (3) sets pass-rate goals for each LEA and school; (4) determines conditions under which students with disabilities and limited-English-proficient students take State tests or alternative assessments, provided this complies with the Individuals with Disabilities Education Act (IDEA); (5) holds LEAs and schools accountable for meeting pass-rate goals, including determining consequences for schools and LEAs that fail to meet such goals, and addresses achievement gaps on State tests affecting certain groups of students; and (6) determines goals for secondary school graduation rates.