IN SB0135

Reduces the waiting period for school corporations to sell vacant or unused school buildings from 48 months to 2 years after making them available to charter schools for lease or purchase

Expands the requirement for governing bodies to make vacant school buildings available to charter schools to include buildings owned by related entities such as building corporations

Allows school corporation governing bodies to request a waiver from the Department of Education to bypass the charter school availability requirement, but the waiver must be denied if a charter school sponsor or statewide charter organization submits a qualified objection within 30 days

Requires charter schools that purchase a vacant school building for $1 to transfer any profit (minus improvement costs) back to the original school corporation if they later sell the building to a third party

Expands the definition of "charter school" to include groups or entities seeking approval from a sponsor to operate a charter school, giving prospective charter schools access to vacant building provisions