Bill > SF2773

This bill establishes comprehensive requirements for charter school closures in Minnesota, creating a detailed framework for managing the complex process of shutting down a charter school. The legislation mandates that when a charter school is set to close, the authorizer must appoint a highly qualified and independent closure trustee within five business days of the final closure decision. This trustee must meet strict qualifications, including having a bachelor's degree, relevant work experience, a clean legal and financial background, and no prior connections to the school or its authorizer. The trustee's responsibilities are extensive, including helping students transfer to new schools, managing student records, facilitating financial audits, maintaining liability insurance, handling the school's dissolution process, and ensuring proper management of school property and assets. The bill also establishes a new charter school closure fund, initially funded with a $350,000 annual legislative appropriation and capped at $1,000,000, which can be used to cover various closure-related expenses such as data reporting, external audits, legal costs, and the trustee's fee. Additionally, the bill modifies existing statutes to specify that any remaining cash or investment balances after a school's closure will be returned to this new charter school closure fund, or to the state general fund if the fund has reached its cap. These provisions aim to create a more structured and transparent process for charter school closures, protecting students, taxpayers, and the broader educational ecosystem.

Education

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2773&ssn=0&y=2025