MN SF1660

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

Trustees must be Minnesota residents with a bachelor's or postgraduate degree in accounting, law, nonprofit management, educational administration, or similar field, plus at least 5 years of work experience in that degree area.

Trustees cannot have felony convictions, civil liability for fraud or breach of fiduciary duty, pending criminal prosecution, wage garnishment history, or bankruptcy filings, and cannot be former employees or family members of school staff.

Trustees have authority to approve all school expenditures, sign all school accounts, and void extraordinary payments made within 90 business days of closure, with authority to seek reimbursement.

A charter school closure fund managed by the Department of Education is created, financed by per-pupil fees ($1 annually until reaching $200,000 cap), with maximum $70,000 available per school closure for audits, liability insurance, legal costs, and trustee fees.