California Education Code

§ 47655

EDC § 47655 Effective Jul 10, 2023Div. 4 · Title 2 · Part 26.8 · Ch. 6 · Art. 5

Statute text

(a)Notwithstanding any other law, all debt and liabilities owed to the state for an original charter school shall transfer to a restructured charter school in accordance with this section.

(b)(1) A transferred charter school shall retain all of the debt and liabilities owed to the state incurred by, or applicable to, the original charter school for the period before the fiscal year the restructuring becomes effective.

(2)An acquiring charter school shall assume all of the debt and liabilities owed to the state incurred by, or applicable to, the original charter schools for the period before the fiscal year the restructuring becomes effective. This paragraph shall become inoperative on July 1, 2026, unless its operation is extended by the Legislature.

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Legislative history

Amended by Stats. 2023, Ch. 48, Sec. 46. (SB 114) Effective July 10, 2023.