1 | A bill to be entitled |
2 | An act relating to the accountability of private |
3 | schools participating in state school choice |
4 | scholarship programs; amending s. 1002.421, F.S.; |
5 | requiring participating private schools to annually |
6 | submit to the Department of Education financially |
7 | audited statements; providing an effective date. |
8 |
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9 | Be It Enacted by the Legislature of the State of Florida: |
10 |
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11 | Section 1. Paragraph (f) of subsection (2) of section |
12 | 1002.421, Florida Statutes, is amended to read: |
13 | 1002.421 Accountability of private schools participating |
14 | in state school choice scholarship programs.- |
15 | (2) A private school participating in a scholarship |
16 | program must be a Florida private school as defined in s. |
17 | 1002.01(2), must be registered in accordance with s. 1002.42, |
18 | and must: |
19 | (f) Demonstrate fiscal soundness and accountability by: |
20 | 1. Being in operation for at least 3 school years or |
21 | obtaining a surety bond or letter of credit for the amount equal |
22 | to the scholarship funds for any quarter and filing the surety |
23 | bond or letter of credit with the department. |
24 | 2. Requiring the parent of each scholarship student to |
25 | personally restrictively endorse the scholarship warrant to the |
26 | school. The school may not act as attorney in fact for the |
27 | parent of a scholarship student under the authority of a power |
28 | of attorney executed by such parent, or under any other |
29 | authority, to endorse scholarship warrants on behalf of such |
30 | parent. |
31 | 3. Annually submitting to the department the financial |
32 | statements of the school, which must have received a financial |
33 | audit as defined in s. 11.45. |
34 | Section 2. This act shall take effect July 1, 2012. |