Section 6-652-A - Development and approval of plan(a) Submission of plan.--(1) Within 90 days of appointment, the chief recovery officer shall, in consultation with the superintendent of the school district, develop a financial recovery plan that complies with section 641-A and shall provide copies of the plan to the school district business office, each member of the board of school directors, the superintendent of the school district, the solicitor of the school district and each member of the advisory committee established under section 654-A. The chief recovery officer may comply with this subsection by providing copies of the plan by electronic mail.(2)(i) The chief recovery officer may request from the secretary an extension of time to comply with paragraph (1).(ii) The secretary shall grant the request for an extension of time, if the secretary determines that the chief recovery officer needs additional time to develop a financial recovery plan that complies with section 641-A.(b) Public inspection.--Upon receipt of the plan, the board of school directors shall immediately place the plan on file for public inspection in the school district business office and make the plan available on the school district's publicly accessible Internet website.(c) Board of school directors' approval.-- (1) Within 30 days of the chief recovery officer's submission of the plan to the board of school directors, the board of school directors shall approve or disapprove the plan by majority vote at a public meeting of the board of school directors. Approval of the plan by the board of school directors shall constitute the school district's application for a loan under Subdivision (vii) in the amount specified in the financial recovery plan.(2) If the board of school directors does not approve the plan within 30 days, the following shall apply:(i) The school district shall not be eligible for a financial recovery transitional loan under Subdivision (vii).(ii) The school district shall not receive technical assistance from the department under section 626-A.(3) If the board of school directors does not approve the plan within 365 days following a declaration of financial recovery status, the secretary shall petition the court of common pleas of the county in which the school district or the largest part in area of the school district is located for the appointment of a receiver under Subdivision (vi). The secretary shall file the petition under this paragraph not less than 366 days nor more than 370 days following the declaration of financial recovery status.(d) Secretary approval.--(1) If the board of school directors approves the plan under subsection (c), the chief recovery officer shall provide a copy of the plan to the secretary within five days of the board's approval.(2) Within ten days of the chief recovery officer's submission of the plan to the secretary, the secretary shall approve or disapprove the plan in a written statement. Approval of the plan by the secretary shall constitute the department's approval of a loan under Subdivision (vii) in the amount specified in the financial recovery plan.(3) If the secretary disapproves the plan, the following shall apply: (i) The secretary's written statement shall state the reasons for the secretary's disapproval of the plan and recommendations for revisions to the plan.(ii) The chief recovery officer shall develop a revised plan within 20 days of receipt of the secretary's written statement disapproving the plan, distribute copies of the plan as required under subsection (a) and submit the revised plan to the board of school directors and the secretary for approval pursuant to subsection (c) and this subsection.Added by P.L. 1142 2012 No. 141, § 10, eff. 7/12/2012.