,i #aafth ,,congress #b;d ,session ,h4 ,r4 #eihd ,,in ,,the ,,house ,,of ,,representatives ,february #bg1 #bjbj,ms4 ,tlaib 7for herself1 ,mr4 ,blumenauer1 ,mr4 ,cicilline1 ,mr4 ,clay1 ,mr4 ,de,fazio1 ,ms4 ,de,lauro1 ,mrs4 ,dingell1 ,mr4 ,garca of ,illinois1 ,ms4 ,garcia of ,texas1 ,ms4 ,haaland1 ,mrs4 ,hayes1 ,ms4 ,jayapal1 ,ms4 ,kelly of ,illinois1 ,mr4 ,khanna1 ,mr4 ,kildee1 ,mrs4 ,lawrence1 ,mr4 ,levin of ,michigan1 ,mr4 ,mc,nerney1 ,ms4 ,moore1 ,ms4 ,ocasio-,cortez1 ,ms4 ,omar1 ,mr4 ,pocan1 ,ms4 ,porter1 ,ms4 ,pressley1 ,mr4 ,raskin1 ,mr4 ,ryan1 ,ms4 ,schakowsky1 ,ms4 ,sewell of ,alabama1 ,ms4 ,shalala1 ,ms4 ,slotkin1 ,ms4 ,stevens1 ,mr4 ,vela1 ,ms4 ,velzquez1 ,ms4 ,wild1 and ,mr4 ,wilson of ,south ,carolina7 introduced the following bill2 which was referred to the ,committee on ,education and ,labor ,a ,,bill ,to amend the ,elementary and ,secondary ,education ,act of #aife to improve oversight of private charter management organizations1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,charter ,oversight1 ,accountability1 and ,transparency ,act or the ,,coat ,act4 #b4 ,oversight of private charter management organizations 7a7 ,state plan assurance ,section #aaaa7;g7 of the ,elementary and ,secondary ,education ,act of #aife 7#bj ,u4,s4,c4 #fcaa7;g77 is amended-- 7#a7 in paragraph 7#b7-- 7,a7 in subparagraph 7,m71 by striking and at the end2 7,b7 in subparagraph 7,n71 by striking the period at the end and inserting 2 and2 and 7,c7 by adding at the end the following new subparagraph3 7,o7 the ,state educational agency will ensure that each contract between a charter school located in the ,state and a private charter management organization for the operation or management of the charter school satisfies the requirements described in paragraph 7#e74 2 and 7#b7 by adding at the end the following new paragraph3 7#e7 ,private charter management organization oversight 7,a7 ,in general ,a contract described in paragraph 7#b77,o7 shall require a private charter management organization to comply1 while under contract1 with the following3 7i7 ,annual disclosures ,the private charter management organization shall disclose annually to the ,secretary1 for the most recently completed fiscal year1 the following information3 7,i7 ,the identity of each charter school operated or managed by the private charter management organization4 7,,ii7 ,the identity of each executive1 including the chief executive officer1 chief operating officer1 chief financial officer1 and general counsel1 of the private charter management organization 7with updates provided to the ,secretary not later than one month after a change with respect to any such executive74 7,,iii7 ,the salary of each such executive4 7,,iv7 ,the amount earned in excess of salary by each such executive4 7,v7 ,the amount expended by the private charter management organization on the following3 7aa7 ,the operations of each charter school that is served by the private charter management organization4 7bb7 ,the administration of the private charter management organization1 excluding amounts accounted for under item 7aa74 7,,vi7 ,an audited income statement and balance sheet demonstrating revenue1 costs1 and profit margin 7prepared in accordance with generally accepted accounting principles74 7,,vii7 ,the amount expended by the private charter management organization1 and the percentage of the annual budget of the private charter management organization that each such amount comprises1 for the following3 7aa7 ,administrative costs4 7bb7 ,costs of advertising and marketing4 7cc7 ,salary and benefits for teachers1 support staff1 school leaders 7including the principal and vice principal71 and special education instructional support staff4 7dd7 ,costs of instructional supplies1 including books1 writing material1 and curriculum material4 7ee7 ,any other cost exceeding one percent of the annual budget of the private charter management organization4 7,,viii7 ,whether the private charter management organization is a for-profit or nonprofit organization4 7,,ix7 ,the identity of any entity that has entered into a contract with the private charter management organization and with respect to which the private charter management organization-- 7aa7 owns a security2 7bb7 extends credit2 7cc7 is a parent1 subsidiary1 or sibling company2 or 7dd7 is under common control4 7ii7 ,board meetings ,the private charter management organization shall-- 7,i7 hold board meetings that are open to the public2 7,,ii7 one week prior to the date of a board meeting1 issue a public notice of the meeting2 and 7,,iii7 ensure that board meetings are reasonably accessible to the community by holding the meetings during a time of day that is reasonably convenient for the parents of children enrolled in a charter school served by the private charter management organization4 7,b7 ,private charter management organization defined ,for purposes of this subsection1 the term private charter management organization means a private organization that operates or manages a charter school or a network of charter schools linked by centralized support1 operations1 and oversight1 without regard to whether such organization is a for-profit or nonprofit organization4 4 7b7 ,public availability and report to ,congress ,not later than six months after receiving information disclosed pursuant to section #aaaa7;g77#e7 of the ,elementary and ,secondary ,education ,act of #aife1 as added by subsection 7a71 the ,secretary of ,education shall-- 7#a7 make available the information on a public website of the ,department of ,education2 and 7#b7 submit to the ,committee on ,education and ,labor of the ,house of ,representatives and the ,committee on ,health1 ,education1 ,labor1 and ,pensions of the ,senate a report containing the information4 7c7 ,effective date ,the amendment made in subsection 7a7 shall apply with respect to contracts entered into1 renewed1 or modified on or after the date of the enactment of this ,act4