MI HB5854

Prohibits public school academies, urban high school academies, schools of excellence, and strict discipline academies from leasing or purchasing real property from their own educational management organizations (EMOs), affiliated real estate holding companies, or persons affiliated with such companies.

Requires boards of directors to approve lease and purchase terms for real property and ensure terms reflect market conditions as determined by an independent licensed real estate appraiser.

Mandates that authorizing bodies review all real property lease and purchase agreements and notify the superintendent of public instruction and state board if agreements violate the EMO restrictions or fail to reflect market conditions.

Changes grammar from "shall be" to "are" for bond obligations and updates section references for strict discipline academies to include section 1311m.