Loading chat...
NY A00865
Bill
Status
1/8/2025
Primary Sponsor
Phara Souffrant Forrest
Click for details
AI Summary
-
Authorizes the Commissioner of Education to appoint an independent fiduciary within 30 days of a charter school's revocation, non-renewal, expiration, or surrender to oversee the dissolution and asset distribution process
-
Independent fiduciary may be a non-profit entity, BOCES, a school district (other than the charter school's location or residence districts), or an individual
-
Grants the independent fiduciary authority to review all existing disbursements, approve or disallow new contracts and spending, file dissolution petitions, and supersede charter school decisions that conflict with the dissolution plan
-
Requires the fiduciary to submit a comprehensive report to the commissioner within 60 days of the charter school's formal dissolution detailing the disposition of assets
-
Mandates that charter school trustees and management fully cooperate with the independent fiduciary and provide access to all school records, with the fiduciary's compensation paid by the charter school
Legislative Description
Requires the appointment of an independent fiduciary upon the closing of a charter school to develop and implement the dissolution plan of such charter school, including the distribution of assets.
Last Action
referred to education
1/7/2026