Texas Education Code

§ 12.1282 — TRANSFER OF PROPERTY PURCHASED WITH STATE FUNDS

ED § 12.1282Title 2. PUBLIC EDUCATION · Part C. LOCAL ORGANIZATION AND GOVERNANCE · Ch. 12. CHARTERS · Art. D. OPEN-ENROLLMENT CHARTER SCHOOL

Statute text

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(a)The agency may approve the transfer of property described by Section 12.128 from an open-enrollment charter school that has ceased to operate, or may transfer property conveyed to the agency by the former charter holder under Section 12.1281, to a school district or an open-enrollment charter school if:

(1)the open-enrollment charter school or school district receiving the property:

(A)agrees to the transfer; and

(B)agrees to identify the property as purchased wholly or partly using state funds on the school's annual financial report filed under Section 44.008;

(2)any creditor with a security interest in or lien on the property described by Section 12.128(e) agrees to the transfer; and

(3)the transfer of the property does not make the open-enrollment charter school or school district receiving the property insolvent.

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Legislative history

Added by Acts 2019, 86th Leg., R.S., Ch. 631 (S.B. 1454), Sec. 8, eff. June 10, 2019.