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A BILL TO BE ENTITLED
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AN ACT
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relating to ownership and disposition of property and management of |
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assets of an open-enrollment charter school for which the charter |
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has been revoked, denied renewal, or surrendered. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter D, Chapter 12, Education Code, is |
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amended by adding Section 12.1165 to read as follows: |
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Sec. 12.1165. CLOSED CHARTER SCHOOL RECOVERED ASSETS. (a) |
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The following funds shall be deposited in the general revenue fund: |
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(1) any state funds received by a charter holder under |
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Section 12.106 that remain after: |
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(A) the commissioner revokes or denies the |
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renewal of the charter of an open-enrollment charter school; or |
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(B) the charter holder surrenders the charter of |
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an open-enrollment charter school; and |
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(2) any proceeds from the disposition of property |
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under Section 12.128(c)(2). |
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(b) Money deposited under Subsection (a) may be |
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appropriated to pay for agency costs associated with an |
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open-enrollment charter school for which the charter has been |
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revoked, denied renewal, or surrendered, including: |
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(1) management and closure of the open-enrollment |
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charter school; and |
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(2) retention of all remaining records of the former |
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open-enrollment charter school. |
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SECTION 2. Section 12.128, Education Code, is amended by |
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adding Subsections (f) and (g) to read as follows: |
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(f) Notwithstanding Subsection (a), on the closure of an |
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open-enrollment charter school, real or personal property |
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purchased using state funds received after September 1, 2001, is |
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considered to be public property only to the extent state funds were |
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used to pay for the property purchased. |
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(g) A charter holder shall provide in the annual financial |
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report of the charter holder a detailed inventory identifying the |
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real property owned or leased by the charter holder. The report |
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must include information identifying the source of funding used to |
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purchase or lease the property. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2017. |