HB 807

1
A bill to be entitled
2An act relating to the accountability of private
3schools participating in state school choice
4scholarship programs; amending s. 1002.421, F.S.;
5requiring participating private schools to annually
6submit to the Department of Education financially
7audited statements; providing an effective date.
8
9Be It Enacted by the Legislature of the State of Florida:
10
11     Section 1.  Paragraph (f) of subsection (2) of section
121002.421, Florida Statutes, is amended to read:
13     1002.421  Accountability of private schools participating
14in state school choice scholarship programs.-
15     (2)  A private school participating in a scholarship
16program must be a Florida private school as defined in s.
171002.01(2), must be registered in accordance with s. 1002.42,
18and must:
19     (f)  Demonstrate fiscal soundness and accountability by:
20     1.  Being in operation for at least 3 school years or
21obtaining a surety bond or letter of credit for the amount equal
22to the scholarship funds for any quarter and filing the surety
23bond or letter of credit with the department.
24     2.  Requiring the parent of each scholarship student to
25personally restrictively endorse the scholarship warrant to the
26school. The school may not act as attorney in fact for the
27parent of a scholarship student under the authority of a power
28of attorney executed by such parent, or under any other
29authority, to endorse scholarship warrants on behalf of such
30parent.
31     3.  Annually submitting to the department the financial
32statements of the school, which must have received a financial
33audit as defined in s. 11.45.
34     Section 2.  This act shall take effect July 1, 2012.


CODING: Words stricken are deletions; words underlined are additions.