LA HB51

Amends R.S. 17:3991(H) to clarify that assets acquired by Type 1, 2, 3, 3B, or 5 charter schools remain the property of that charter school for the duration of the charter agreement, while Type 4 charter school assets belong to the local school board

When a Type 1, 3, or 3B charter school converts to a Type 2 charter school, all assets purchased with public funds prior to conversion remain with the charter school for the duration of its agreement with the state board

If a Type 1, 2, 3, 3B, or 5 charter school's agreement is revoked or the school ceases to operate, all assets purchased with public funds become the property of the chartering authority

For converted Type 2 charter schools that close or have their charter revoked, any property owned by the local school board that was used by the charter school remains with the local school board

Charter schools shall maintain records of assets acquired with private funds, which remain the property of the nonprofit organization operating the charter school