MN HF1681

Charter school boards must appoint a school closure trustee approved by the authorizer within 15 business days of a final closure decision, whether voluntary or due to contract nonrenewal or termination.

Trustee must be a Minnesota resident with a bachelor's or postgraduate degree in accounting, law, nonprofit management, educational administration, or related field, plus at least five years of work experience; must pass criminal background check and cannot have felony convictions, fraud liability, bankruptcy history, or wage garnishment.

Trustee cannot have worked for the charter school in the previous five years and cannot have immediate family members employed by the school or serving on its board; trustee must be independent with no material adverse interest.

Trustee oversees execution of the school's closure plan, approves all expenditures before payment, serves as required signatory on all accounts, and can void extraordinary payments made within 90 business days of closure.

Establishes a charter school closure fund managed by the Department of Education, financed by $1 per pupil annually from all charter schools until reaching a $200,000 cap; fund limited to external audits, liability insurance, legal costs, corporation dissolution, and trustee fees, with maximum $70,000 per closure process.