MI SB0934

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

Requires academy boards of directors to approve all lease or purchase agreements for real property and ensure terms reflect current 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 they suspect violations of the restrictions or if terms do not reflect market conditions.

Makes grammatical and technical changes to references in charter school statutes, including updating language from "shall be" to "are" for bond obligations and extending statute references to include section 1311m.