281—68.7 (256F) Revocation of charter.
	 68.7(1) Reasons for revocation. A charter may be revoked by the state board or by the school board that established the charter if either board determines that one or more of the following occurred:
	  a.   	 The charter school has failed to meet the provisions set forth in the contract for the operation of the charter school.
	  b.   	 The charter school has failed to comply with the provisions in Iowa Code chapter 256F.
	  c.   	 The charter school has failed to meet generally accepted accounting principles for public entities.
	 68.7(2) Revocation by school board. A school board considering the revocation of a contract with its charter school shall notify the advisory council, the family units, and the teachers and administrators employed by the charter school at least 60 days prior to the date by which the contract must be renewed, but not later than the last day of classes in the school year. The decision of a school board to revoke or fail to renew a charter school contract is subject to appeal by a member of the advisory council, an affected student, or an individual employed by the charter school under procedures set forth in Iowa Code chapter 290.
	 68.7(3) Revocation by state board. If the state board determines that reason exists under subrule 68.7(1) to revoke a charter school contract, the state board shall notify the school board and the advisory council of the charter school of the state board’s intention to revoke the contract at least 60 days prior to the revocation of the contract, and the school board shall assume oversight authority, operational authority, or both oversight and operational authority. The notice shall state the grounds for the proposed action in writing and in reasonable detail. The school board may request in writing an informal hearing before the state board within 14 days of receiving notice of revocation of the contract. Upon receiving a timely written request for a hearing, the state board shall give reasonable notice to the school board of the hearing date. The state board shall conduct an informal hearing before taking final action. Final action to revoke a contract shall be taken in a manner least disruptive to the students enrolled in the charter school. The state board shall take final action to revoke or approve continuation of a contract by the last day of classes in the school year. If the final action to revoke a contract under Iowa Code section 256F.8 occurs prior to the last day of classes in the school year, a charter school student may enroll in the resident district. The decision of the state board to revoke a contract under Iowa Code section 256F.8 is solely within the discretion of the state board and is final.
	 68.7(4) Voluntary revocation. A charter school may voluntarily revoke its charter school contract by giving notice not later than the last day of classes to the school board, the advisory council, and the department of its intent to cease to exist as a charter school for the immediate successive school year. Once voluntarily revoked, the contract shall not be renewed unless the school board undertakes anew the charter process.
These rules are intended to Iowa Code chapter 256F.