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| | HB3437 Engrossed | | LRB100 10624 MLM 20846 b |
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| 1 | | AN ACT concerning education.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The School Code is amended by changing Section |
| 5 | | 27A-10.10 as follows:
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| 6 | | (105 ILCS 5/27A-10.10) |
| 7 | | Sec. 27A-10.10. Closure of charter school; unspent public |
| 8 | | funds; procedures for the disposition of property and assets. |
| 9 | | (a) Upon the closing of a charter school authorized by one |
| 10 | | or more local school boards, the governing body of the charter |
| 11 | | school or its designee shall refund to the chartering entity or |
| 12 | | entities all unspent public funds. The charter school's other |
| 13 | | property and assets shall be disposed of under the provisions |
| 14 | | of the charter application and contract. If the application and |
| 15 | | contract are silent or ambiguous as to the disposition of any |
| 16 | | of the school's property or assets, any property or assets of |
| 17 | | the charter school purchased with public funds shall be |
| 18 | | returned to the school district or districts from which the |
| 19 | | charter school draws enrollment, at no cost to the receiving |
| 20 | | district or districts, subject to each district's acceptance of |
| 21 | | the property or asset. Any unspent public funds or other |
| 22 | | property or assets received by the charter school directly from |
| 23 | | any State or federal agency shall be refunded to or revert back |
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| | HB3437 Engrossed | - 2 - | LRB100 10624 MLM 20846 b |
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| 1 | | to that State or federal agency, respectively. |
| 2 | | (b) Upon the closing of a charter school authorized by the |
| 3 | | Commission, the governing body of the charter school or its |
| 4 | | designee shall refund all unspent public funds to the State |
| 5 | | Board of Education. The charter school's other property and |
| 6 | | assets shall be disposed of under the provisions of the charter |
| 7 | | application and contract. If the application and contract are |
| 8 | | silent or ambiguous as to the disposition of any of the |
| 9 | | school's property or assets, any property or assets of the |
| 10 | | charter school purchased with public funds shall be returned to |
| 11 | | the school district or districts from which the charter school |
| 12 | | draws its enrollment, at no cost to the receiving district or |
| 13 | | districts, subject to each district's acceptance of the |
| 14 | | property or asset. Any unspent public funds or other property |
| 15 | | or assets provided by a State agency other than the State Board |
| 16 | | of Education or by a federal agency shall be refunded to or |
| 17 | | revert back to that State or federal agency, respectively.
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| 18 | | (c) If a determination is made to close a charter school |
| 19 | | located within the boundaries of a school district organized |
| 20 | | under Article 34 of this Code for at least one school year, the |
| 21 | | charter school shall give at least 60 days' notice of the |
| 22 | | closure to all affected students and parents or legal |
| 23 | | guardians. |
| 24 | | (Source: P.A. 98-783, eff. 1-1-15.)
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| 25 | | Section 99. Effective date. This Act takes effect upon |
| 26 | | becoming law.
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