HB3437 EngrossedLRB100 10624 MLM 20846 b

1    AN ACT concerning education.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The School Code is amended by changing Section
527A-10.10 as follows:
 
6    (105 ILCS 5/27A-10.10)
7    Sec. 27A-10.10. Closure of charter school; unspent public
8funds; procedures for the disposition of property and assets.
9    (a) Upon the closing of a charter school authorized by one
10or more local school boards, the governing body of the charter
11school or its designee shall refund to the chartering entity or
12entities all unspent public funds. The charter school's other
13property and assets shall be disposed of under the provisions
14of the charter application and contract. If the application and
15contract are silent or ambiguous as to the disposition of any
16of the school's property or assets, any property or assets of
17the charter school purchased with public funds shall be
18returned to the school district or districts from which the
19charter school draws enrollment, at no cost to the receiving
20district or districts, subject to each district's acceptance of
21the property or asset. Any unspent public funds or other
22property or assets received by the charter school directly from
23any State or federal agency shall be refunded to or revert back

 

 

HB3437 Engrossed- 2 -LRB100 10624 MLM 20846 b

1to that State or federal agency, respectively.
2    (b) Upon the closing of a charter school authorized by the
3Commission, the governing body of the charter school or its
4designee shall refund all unspent public funds to the State
5Board of Education. The charter school's other property and
6assets shall be disposed of under the provisions of the charter
7application and contract. If the application and contract are
8silent or ambiguous as to the disposition of any of the
9school's property or assets, any property or assets of the
10charter school purchased with public funds shall be returned to
11the school district or districts from which the charter school
12draws its enrollment, at no cost to the receiving district or
13districts, subject to each district's acceptance of the
14property or asset. Any unspent public funds or other property
15or assets provided by a State agency other than the State Board
16of Education or by a federal agency shall be refunded to or
17revert back to that State or federal agency, respectively.
18    (c) If a determination is made to close a charter school
19located within the boundaries of a school district organized
20under Article 34 of this Code for at least one school year, the
21charter school shall give at least 60 days' notice of the
22closure to all affected students and parents or legal
23guardians.
24(Source: P.A. 98-783, eff. 1-1-15.)
 
25    Section 99. Effective date. This Act takes effect upon
26becoming law.