Texas § ED.12.1282 - TRANSFER OF PROPERTY PURCHASED WITH STATE FUNDS

§ ED.12.1282. TRANSFER OF PROPERTY PURCHASED WITH STATE FUNDS

TRANSFER OF PROPERTY PURCHASED WITH STATE FUNDS. (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. (b) Property received by an open-enrollment charter school or school district under this section is considered to be state property under Section 12.128 (a). (c) The commissioner may adopt rules necessary to administer this section, including rules establishing qualifications and priority for a school district or open-enrollment charter school to receive a transfer of property under this section. (d) If the agency determines that the cost of disposing of personal property described by Section 12.128 transferred to the agency by an open-enrollment charter school that ceases to operate exceeds the return of value from the sale of the property, the agency may distribute the personal property to open-enrollment charter schools and school districts in a manner determined by the commissioner. (e) A determination by the agency under this section is final and may not be appealed. Added by Acts 2019, 86th Leg., R.S., Ch. 631 (S.B. 1454 ), Sec. 8, eff. June 10, 2019.