FL S0696

Requires sponsors to honor irrevocable instructions by charter schools to deposit funds and voids any conflicting sponsor policies or charter contract provisions.

Authorizes charter schools to enter into financial arrangements including borrowing, pledging, and encumbering assets consistent with corporate law provisions, with liberal construction of these powers.

Requires sponsors to honor security interests, liens, and encumbrances on charter school property and public funds before property reverts to the sponsor upon charter dissolution or termination.

Clarifies that charter schools pledging or assigning future funding payments are not pledging the credit or taxing power of the state or school district.

Requires district school boards to issue payments within 10 working days after receiving funds distributed through the Florida Education Finance Program, with 1 percent monthly interest penalty for late payment.