88R11422 MM-F
By: Capriglione H.B. No. 3971
A BILL TO BE ENTITLED
AN ACT
relating to a financial report filed by an open-enrollment charter
school.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 12.1168(b), Education Code, is amended
to read as follows:
(b) A financial report filed under Section 44.008 by an
open-enrollment charter school must separately disclose:
(1) each [all] financial transaction [transactions]
between the open-enrollment charter school and any related party,
separately stating the:
(A) relationship;
(B) address;
(C) principal;
(D) [,] interest;
(E) annual and total contract payments including
a description of goods or services; [,] and
(F) annual and total lease payments including a
description of the property; [and]
(2) the total compensation and benefits provided by
the school and any related party for each member of the governing
body and each officer and administrator of the school and the
related party;
(3) the name and address of any management company;
and
(4) fees paid during each of the preceding three years
to a management company or to any related party for each good,
service, or item, including:
(A) management services;
(B) branding or licensing;
(C) advertising;
(D) student recruitment;
(E) instructional costs including curriculum and
professional development;
(F) facility development;
(G) student uniforms; and
(H) teacher salaries.
SECTION 2. Section 44.008(f), Education Code, is amended to
read as follows:
(f) An open-enrollment charter school shall provide an
accounting of each parcel of the school's owned or leased real
property, including identifying the:
(1) address;
(2) owner;
(3) purpose and use of each parcel;
(4) name of each campus listed; and
(5) annual and total amount of local, state, and
federal funds used to purchase, lease, or improve each parcel of
property.
SECTION 3. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2023.