(a) A public charter school shall, at a minimum:

(1) Be operated by a not-for-profit organization that is exempt from federal taxation under § 501(c)(3) of the Internal Revenue Code, 26 U.S.C. § 501(c)(3);

(2) Operate as a public, nonsectarian, nonreligious public school, with control of instruction vested in the governing body of the public charter school under the general supervision of the authorizer and in compliance with the charter agreement and this chapter;

(3) Meet the performance standards and requirements adopted by the state board of education for public schools;

(4) Except as provided in § 49-13-142(d), receive state, federal, and local funds from the local board of education;

(5) Provide education services for students with disabilities, English language learners, and other students with diverse needs, in accordance with state and federal law;

(6) Administer state assessments as provided in chapter 1, part 6 of this title; and

(7) Open and operate within the geographic boundaries of the authorizing local board of education or, if the public charter school is authorized by the achievement school district or the commission, within the geographic boundaries of the LEA in which the charter sponsor has been approved to locate.

(b) A public charter school shall be subject to all federal and state laws and constitutional provisions prohibiting discrimination on the basis of disability, race, creed, color, national origin, religion, ancestry or need for special education services. A public charter school may not violate or be used to subvert any state or federal court orders in place in the local school district.

(c)

(1) A public charter school shall comply with all applicable health and safety standards, regulations and laws of the United States and this state.

(2) [Deleted by 2019 amendment.]

(d) A public charter school shall be accountable to the authorizer for the purpose of ensuring compliance with the charter agreement and the requirements of this chapter. Authorizers shall enforce compliance with the requirements of this chapter.

(e) All contracts for goods in excess of ten thousand dollars ($10,000) shall be bid and must be approved by the governing body of each public charter school.

(f) [Deleted by 2019 amendment.]

(g) With regard to conflicts of interest, the governing body of a public charter school shall be subject to §§ 12-4-101 and 12-4-102.

(h) All records of a public charter school are open for personal inspection and duplication by any citizen of this state to the same extent that records of public schools operated by an LEA are open.

(i) The meetings of the governing body of a public charter school shall be deemed public business and must be held in compliance with title 8, chapter 44, part 1. All information providing notice of public meetings as required under § 8-44-103 must be kept current by a public charter school on the public charter school's website. The board of directors of a CMO may conduct a board meeting concerning a public charter school located in this state by teleconference, videoconference, or other electronic means in compliance with § 8-44-108, except that § 8-44-108(b)(2) and (3) shall not apply to such a meeting if a physical quorum is not present at the location stated in the notice of the meeting.

(j) A public charter school shall follow the state board of education's rules and regulations for licensure and endorsement of employees.

(k) All teachers in a public charter school must hold a valid Tennessee educator license.

(l) A public charter school is subject to state audit procedures and audit requirements.

(m) [Deleted by 2019 amendment.]

(n) A public charter school shall be operated on a July 1 to June 30 fiscal year and the governing body shall adopt and operate under an annual budget for the fiscal year. The budget shall be prepared in the same format as that required by the state department of education for LEAs.

(o) A public charter school shall maintain the school's accounts and records in accordance with accounting principles generally accepted in the United States and in conformity with the uniform chart of accounts and accounting requirements prescribed by the comptroller of the treasury. The public charter school shall prepare and publish an annual financial report that encompasses all funds. The annual financial report must include the audited financial statements of the public charter school.

(p) A public charter school shall require any member of the governing body, employee, officer or other authorized person who receives funds, has access to funds, or has authority to make expenditures from funds, to give a surety bond in the form prescribed by § 8-19-101. The cost of the surety bond shall be paid by the charter school and shall be in an amount determined by the governing body.

(q) The governing body shall conduct at least one (1) annual board training course and shall provide documentation of such training to the authorizer. The training course shall be certified by the Tennessee Charter School Center and approved by the state board of education.

(r) Except where waivers are otherwise prohibited in this chapter, a public charter school may apply to either the authorizer or to the commissioner of education for a waiver of any state board rule or statute that inhibits or hinders the proposed public charter school's ability to meet the school's goals or comply with the school's mission statement. Neither the authorizer nor the commissioner shall waive regulatory or statutory requirements related to:

(1) Federal and state civil rights;

(2) Federal, state, and local health and safety;

(3) Federal and state public records;

(4) Immunizations;

(5) Possession of weapons on school grounds;

(6) Background checks and fingerprinting of personnel;

(7) Federal and state special education services;

(8) Student due process;

(9) Parental rights;

(10) Federal and state student assessment and accountability;

(11) Open meetings; and

(12) At least the same equivalent time of instruction as required in regular public schools.