View Amendment Current Amendment: 14a to Bill 5150

Rep. COBB-HUNTER proposes the following Amendment No. to H.5150 as Passed By The House

(Doc Name h:\legwork\house\amend\h-wm\001\h2-asset transfer.docx):

EXPLANATION: Charter schools' transfer of charter and the effect on its assets.

Amend the bill, as and if amended, Part IB, Section 1, DEPARTMENT OF EDUCATION, page 308, after line 18, by adding an appropriately numbered proviso to read:

/ (SDE: Asset Transfer) A charter school which transfers its charter to a new authorizer or renews its charter at the conclusion of a ten-year period with a new charter authorizer is permitted to retain any equipment purchased with funds, including federal funds, appropriated or authorized for expenditure in this act. Further, a charter school which transfers its charter or renews its charter with a new authorizer is entitled to retain any federal ESSER funds that would otherwise have been allocated to the school by the current authorizer. Any such funds shall be transferred to the new authorizer in accordance with the current district or authorizer's ESSER plan, and the new authorizer shall maintain all records as required to meet the State Department of Education auditing requirements. /

Amend totals and titles to conform.