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A BILL TO BE ENTITLED
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AN ACT
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relating to a financial report filed by an open-enrollment charter |
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school. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 12.1168(b), Education Code, is amended |
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to read as follows: |
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(b) A financial report filed under Section 44.008 by an |
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open-enrollment charter school must separately disclose: |
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(1) each [all] financial transaction [transactions] |
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between the open-enrollment charter school and any related party, |
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separately stating the: |
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(A) relationship; |
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(B) address; |
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(C) principal; |
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(D) [,] interest; |
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(E) annual and total contract payments including |
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a description of goods or services; [,] and |
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(F) annual and total lease payments including a |
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description of the property; [and] |
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(2) the total compensation and benefits provided by |
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the school and any related party for each member of the governing |
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body and each officer and administrator of the school and the |
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related party; |
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(3) the name and address of any management company; |
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and |
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(4) fees paid during each of the preceding three years |
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to a management company or to any related party for each good, |
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service, or item, including: |
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(A) management services; |
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(B) branding or licensing; |
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(C) advertising; |
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(D) student recruitment; |
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(E) instructional costs including curriculum and |
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professional development; |
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(F) facility development; |
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(G) student uniforms; and |
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(H) teacher salaries. |
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SECTION 2. Section 44.008(f), Education Code, is amended to |
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read as follows: |
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(f) An open-enrollment charter school shall provide an |
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accounting of each parcel of the school's owned or leased real |
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property, including identifying the: |
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(1) address; |
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(2) owner; |
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(3) purpose and use of each parcel; |
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(4) name of each campus listed; and |
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(5) annual and total amount of local, state, and |
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federal funds used to purchase, lease, or improve each parcel of |
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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, 2023. |