MN HF3047

Charter school boards must appoint a school closure trustee approved by the authorizer within 15 business days of a final closure decision (voluntary closure, nonrenewal, or termination by authorizer or commissioner).

Trustees must be Minnesota residents with a bachelor's or postgraduate degree in accounting, law, nonprofit management, educational administration, or related field, plus at least 5 years of work experience; must pass state and federal criminal background checks and cannot have felony convictions, civil fraud liability, or bankruptcy history.

Trustees cannot have been employed by the charter school in the previous 5 years and cannot have immediate family members serving as employees, contractors, or board members; the trustee must be independent with no material adverse interest in the school.

Trustees must approve all school expenditures before payment, serve as required signatories on school accounts, execute the closure plan, transfer student records, and can void extraordinary payments made within 90 business days of closure; the authorizer may replace trustees performing inefficiently.

A charter school closure fund capped at $200,000 will be established and managed by the Department of Administration, financed by a $1 per pupil annual fee from all charter schools; funds may only cover closure audits, liability insurance, legal dissolution costs, and trustee fees, with a $70,000 maximum per school closure.