Amends TCA Title 10, Chapter 7 and Title 49, Chapter 13.

This bill enacts the "Transparency in Charter School Finance Act," which subjects a charter school and the chartering management organization to the open records law and requires a charter school to disclose the following each fiscal year to the comptroller:<br /> <br /> (1) The salaries and other payments made to each charter school employee;<br /> <br /> (2) If employees of the charter school are paid through a contract between the school and a third party, the salaries and other payments made to each such individual from the third party;<br /> <br /> (3) The amount and a description of all contract payments that exceed $10,000; and<br /> <br /> (4) The amount of all monies and payment received by the charter school, including state and local funds under the Tennessee investment in student achievement formula (TISA), grants, donations, and contract payments, and an explanation of the payments.<br /> <br /> Additionally, if a charter school makes payments to a business entity that exceeds $1,000 in a fiscal year, then this bill requires the charter school to disclose if the charter management organization, or the employees or family members of employees of the organization, have a financial interest in the charter management organization to the comptroller.<br />