Amend CSHB 388 as follows:

(1)  On page 1, line 19, strike "and".

(2)  On page 2, line 14, between "rent" and "." insert "; and

(3)  the school and charter holder are operated in a way that does not result in accrual of distributable profits, realization of private gain resulting from payment of compensation in excess of a reasonable allowance for salary or other compensation for services rendered, or realization of any other form of private gain and, if the charter holder is a corporation, be organized as a nonprofit corporation as defined by the Texas Non-Profit Corporation Act".