School of excellence; management agreement with educational management organization; definitions.

(1) Beginning with management agreements described in this section that are entered into or renewed after the effective date of this section, if the board of directors of a school of excellence enters into or renews a management agreement with an educational management organization to carry out the operations of the school of excellence, both of the following apply: (a) The management agreement shall require the educational management organization to provide to the board of directors at least annually all the same information that a school district is required to disclose under section 18(2) of the state school aid act of 1979, MCL 388.1618, for the most recent school fiscal year for which that information is available. (b) Within 30 days after receiving the information under subdivision (a), the board of directors shall make all of the information it receives under subdivision (a) available through a link on the school of excellence's website homepage, in a form and manner prescribed by the department. (2) As used in this section: (a) "Educational management organization" means an entity that enters into a management agreement with a school of excellence. (b) "Entity" means a partnership, nonprofit or business corporation, or any other association, corporation, trust, or other legal entity. (c) "Management agreement" means an agreement to provide comprehensive educational, administrative, management, or instructional services or staff to a school of excellence. (d) "School fiscal year" means the period that begins July 1 and ends June 30.