Green Credit Enhancement Program Act of 2010 - Amends the Elementary and Secondary Education Act of 1965 to direct the Secretary of Education to award competitive grants to public entities, private nonprofit entities, or consortia of such entities to demonstrate innovative means of enhancing credit for the financing of charter school acquisition, construction, or renovation.
Requires each grantee to place its grant funds in a reserve account for use in facilitating one or more charter schools' access to private-sector capital.
Conditions the grant on the grantee's using at least 50% of the grant to fund projects consistent with one of several green building certification programs that include: (1) the Leadership in Energy and Environmental Design (LEED) Green Building Rating System; (2) the Energy Star program; (3) the Collaborative for High Performance Schools (CHPS) green building rating program; (4) the Green Building Initiative environmental design and rating system (Green Globes); or (5) any other green building certification program adopted by the state or entity that has authority over the local educational agency. Allows the waiver of such condition in certain circumstances.