85R5303 MEW-D     By: Giddings H.B. No. 2617       A BILL TO BE ENTITLED   AN ACT   relating to ownership and disposition of property and management of   assets of an open-enrollment charter school for which the charter   has been revoked, denied renewal, or surrendered.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter D, Chapter 12, Education Code, is   amended by adding Section 12.1165 to read as follows:          Sec. 12.1165.  CLOSED CHARTER SCHOOL RECOVERED ASSETS. (a)     The following funds shall be deposited in the general revenue fund:                (1)  any state funds received by a charter holder under   Section 12.106 that remain after:                      (A)  the commissioner revokes or denies the   renewal of the charter of an open-enrollment charter school; or                      (B)  the charter holder surrenders the charter of   an open-enrollment charter school; and                (2)  any proceeds from the disposition of property   under Section 12.128(c)(2).          (b)  Money deposited under Subsection (a) may be   appropriated to pay for agency costs associated with an   open-enrollment charter school for which the charter has been   revoked, denied renewal, or surrendered, including:                (1)  management and closure of the open-enrollment   charter school; and                (2)  retention of all remaining records of the former   open-enrollment charter school.          SECTION 2.  Section 12.128, Education Code, is amended by   adding Subsections (f) and (g) to read as follows:          (f)  Notwithstanding Subsection (a), on the closure of an   open-enrollment charter school, real or personal property   purchased using state funds received after September 1, 2001, is   considered to be public property only to the extent state funds were   used to pay for the property purchased.          (g)  A charter holder shall provide in the annual financial   report of the charter holder a detailed inventory identifying the   real property owned or leased by the charter holder.  The report   must include information identifying the source of funding used to   purchase or lease the property.          SECTION 3.  This Act takes effect immediately if it receives   a vote of two-thirds of all the members elected to each house, as   provided by Section 39, Article III, Texas Constitution.  If this   Act does not receive the vote necessary for immediate effect, this   Act takes effect September 1, 2017.