IL HB4840

Initial charter terms granted on or after the effective date are reduced from 5 school years to no more than 3 school years.

Charter renewal periods granted on or after the effective date are reduced from incremental periods not to exceed 10 school years to periods not to exceed 3 school years.

Charters granted before the effective date retain the original 5-year initial term and may be renewed in periods up to 10 school years.

Chicago Board of Education's authority to not renew authorization of charter or contract schools is preserved and not affected by school closure moratorium provisions.

Charter schools renewed before the effective date that meet performance standards may receive full 10-year renewal terms, but those renewed after the effective date are limited to full 3-year terms.