IL SB4040

Transfers authorization of State Board-authorized charter schools located outside Chicago (cities over 500,000 inhabitants) to local school district boards on July 1, 2027, with a new 7-year contract term beginning on that date.

Requires charter schools drawing students from multiple districts to establish a joint charter management team with at least one administrator from each district to develop and submit a charter oversight plan to the State Board.

Removes the State Board of Education's authority to reverse local board decisions to deny, revoke, or not renew charter school charters.

Makes local school board decisions to deny, revoke, or not renew charters subject to judicial review under the Administrative Review Law rather than State Board appeal.

Allows the State Board to charge charter schools it authorizes a fee up to 3% of revenue for authorizing activities including oversight, monitoring, and staff training.