SB683 Summary

• Allows community foundations with $500 million or more in assets located in counties with over 500,000 population to sponsor charter schools, adding them as a new category of sponsors alongside school districts, technology centers, higher education institutions, and Indian tribes.

• Requires community foundation-sponsored charter schools to be located in school districts with average daily membership of 5,000 or more and which are located in counties with over 500,000 population.

• Updates charter school definitions and procedures to include community foundations as eligible sponsors and includes them in application, notification, and administrative responsibility provisions.

• Maintains funding structure where charter schools receive State Aid allocation and any state-appropriated revenue generated by students, with sponsors able to retain up to 5% for administrative fees.

• Becomes effective July 1, 2013, with emergency clause for immediate effect upon passage and approval.