NJ S2640

Requires charter school applications to demonstrate need unmet by existing public schools, include anticipated administrative costs, and prohibits using unaudited waitlist data as evidence of need.

Mandates that charter schools operate and provide instruction in physical locations within New Jersey, and prohibits approval of new charter schools that operate primarily online.

Prohibits charter school boards of trustees from contracting with for-profit entities to operate schools, though they may contract with nonprofit charter management organizations.

Establishes a probationary status process where charter schools that commit violations on two occasions may be placed on probation with a remedial plan, with mandatory charter revocation if violations continue.

Requires the Department of Education to maintain a public transparency webpage with charter school contracts, budgets, Form 990 filings, renewal applications, and public comment instructions, and mandates each charter school maintain its own website with budget and governance information.