FL H0251

Requires charter school sponsors to honor irrevocable instructions from charter schools to deposit funds and declares any conflicting sponsor policies or charter contract provisions void and unenforceable.

Authorizes charter schools to enter into financial arrangements including borrowing, pledging, and encumbering assets, with charter schools that pledge future funding not deemed to pledge state or school district credit or taxing power.

Requires sponsors to honor all lawful security interests, liens, and encumbrances on charter school property, including those on public funds, before property reverts to the sponsor upon charter termination.

Mandates district school boards issue payments to charter schools within 10 working days after receiving state or federal funds, including Florida Education Finance Program distributions, with 1 percent monthly interest charged for late payments.

Effective July 1, 2017.