Bill > S00612

This bill requires the appointment of an independent fiduciary when a charter school is closing, providing a structured process for school dissolution. Upon a charter being revoked, not renewed, or surrendered, the commissioner of education may appoint an independent fiduciary within 30 days to manage the school's closure. This fiduciary can be a non-profit entity, a Board of Cooperative Educational Services (BOCES), another school district, or an individual. The fiduciary will have broad powers, including reviewing and modifying existing and new school contracts, preparing dissolution petitions, and overseeing asset distribution. They must submit a comprehensive report to the commissioner within 60 days of formal dissolution. The charter school's trustees and management are required to fully cooperate with the fiduciary, who will be compensated by the charter school and receive the same defense and indemnification as a school employee. The fiduciary can be replaced by the commissioner if they violate regulations or fail to perform their duties. This legislation aims to ensure transparent, responsible, and orderly charter school closures, protecting the interests of students, staff, and the broader educational community.

Education

https://www.nysenate.gov/legislation/bills/2025/S612