160.425.  Missouri charter public school commission created, members, duties — funding — revolving fund created. — 1.  The "Missouri Charter Public School Commission" is hereby created with the authority to sponsor high quality charter schools throughout the state of Missouri.

  2.  The commission shall consist of nine members appointed by the governor, by and with the advice and consent of the senate.  No more than five of the members shall be of the same political party.  No more than two members shall be from the same congressional district.  The term of office of each member shall be four years, except those of the members first appointed, of which three shall be appointed for a term of one year, two for a term of two years, two for a term of three years, and two for a term of four years.  At the expiration of the term of each member, the governor, by and with the advice and consent of the senate, shall appoint a successor.

  3.  The appointees to the commission shall be selected as follows:

  (1)  One member selected by the governor from a slate of three recommended by the commissioner of education;

  (2)  One member selected by the governor from a slate of three recommended by the commissioner of higher education;

  (3)  One member selected by the governor from a slate of three recommended by the president pro tempore of the senate;

  (4)  One member selected by the governor from a slate of three recommended by the speaker of the house of representatives; and

  (5)  Five additional members appointed by the governor, one of whom shall be selected from a slate of three nominees recommended by the Missouri School Boards Association.

  4.  Members appointed to the commission shall collectively possess strong experience and expertise in governance, management and finance, school leadership, assessment, curriculum and instruction, and education law.  All members of the commission shall have demonstrated understanding of and commitment to charter schooling as a strategy for strengthening public education.

  5.  The commission shall annually elect a chairperson and vice chairperson, who shall act as chairperson in his or her absence.  The commission shall meet at the call of the chairperson.  The chairperson may call meetings at such times as he or she deems advisable and shall call a meeting when requested to do so by three or more members of the commission.  Members of the commission are not eligible to receive compensation.

  6.  The commission may approve proposed charters for its sponsorship under sections 160.400 to 160.425 and shall:

  (1)  Comply with all of the requirements applicable to sponsors under sections 160.400 to 160.425;

  (2)  Exercise sponsorship over charters approved by the commission under sections 160.400 to 160.425, including receipt of sponsorship funding under subsection 11 of section 160.400.  Sponsorship funding due to the commission shall be deposited to the credit of the charter public school commission revolving fund created pursuant to this section.

  7.  Charter schools sponsored by the commission shall comply with all of the requirements applicable to charter schools under sections 160.400 to 160.425.

  8.  The commission shall conduct its business in accordance with chapter 610.

  9.  The department of elementary and secondary education shall provide start-up funding for the commission to operate.  The commission shall reimburse the department's costs from any funds it receives as sponsor under section 160.400.

  10.  The commission is authorized to receive and expend gifts, grants, and donations of any kind from any public or private entity to carry out the purposes of sections 160.400 to 160.425, subject to the terms and conditions under which they are given, provided that all such terms and conditions are permissible under law.

  11.  There is hereby created in the state treasury the "Charter Public School Commission Revolving Fund", which shall consist of moneys collected under this section.  The state treasurer shall be custodian of the fund.  In accordance with sections 30.170 and 30.180, the state treasurer may approve disbursements.  Notwithstanding the provisions of section 33.080 to the contrary, any moneys remaining in the fund at the end of the biennium shall not revert to the credit of the general revenue fund.  The state treasurer shall invest moneys in the fund in the same manner as other funds are invested.  Subject to appropriation, moneys in the fund shall be used solely for the administration of this section.