MS HB468

Creates an Administrative School District Receivership Program allowing "A"-rated school districts to assume administrative control over adjacent "D" or "F"-rated districts that have failed for two consecutive years, with State Board of Education approval required for the petition

Terminates the superintendent and abolishes the school board of failing districts placed in receivership; the acquiring district's superintendent and board assume all management powers including authority to evaluate and retain or terminate employees within 90 days

Establishes a $1,000,000 Administrative School District Receivership Program Fund, with districts of receivership eligible to receive up to $200,000 per acquired failing district to facilitate the transition

Requires tax collectors of acquired failing districts to transfer per-pupil ad valorem tax receipts directly to the district of receivership, and grants a two-year waiver from accountability and assessment requirements for the new student population

Released districts must achieve a "C" rating before exiting receivership, at which point the Governor calls a special election to fill school board vacancies; former board members and superintendents are ineligible to serve in the reconstituted district