HB2660 Summary

• Amends the School Code Section 27A-11 to modify charter school funding and financing provisions.

• Charter schools must determine and report to school districts the number of resident students enrolled, and maintain daily attendance records sufficient for filing state aid claims regardless of other requirements regarding instructional hours and teacher certification.

• Charter school funding shall be negotiated between the charter school and local school board, paid in equal quarterly installments with the first payment due by July 1, unless a different schedule is established.

• Funding for charter schools authorized by the Commission shall be calculated as the per capita student tuition amount less the Foundation Level amount, plus the Foundation Level amount multiplied by the percentage of state claims actually paid that school year, when state payments fall below full claim amounts.

• Charter schools may set and collect reasonable student fees which they retain, and are authorized to incur short-term debt to cover operating expenses pending receipt of local school board funds.