MO HB1894

Unaccredited and provisionally accredited school districts must report unused or vacant buildings to the Department of Elementary and Secondary Education by July 1 each year, with a $1,000 per day fine for late reporting.

Charter schools have the first right to lease or purchase listed unused or vacant buildings at fair market value or rent rates determined by the department, with 24 months to make an offer.

If no charter school purchases or leases the building within 24 months, other public educational entities (state technical schools, public colleges, universities) have 30 additional months before the district may sell to the highest bidder.

Charter schools leasing entire buildings may encumber them with mortgages for improvements and the lessor must subordinate its interest; charter schools are responsible for utilities, insurance, maintenance, property taxes, and repairs during the lease term.

If a charter school purchases a building below appraised value, it cannot resell within five years for more than the original purchase price plus debt, closing costs, and real estate commissions, unless the charter was subsequently revoked.