Section 6-663-A - Development and approval of plan(a) Submission of plan.-- (1) Within 30 days of appointment, the chief recovery officer of a school district that votes to proceed under section 662-A(1) shall develop a financial recovery plan that complies with section 641-A and 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 and the solicitor of the school district. 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)(i) Within ten 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. The 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. (ii) Any failure by the board of school directors to vote on the proposed plan within ten days shall be deemed a vote to disapprove the plan.(2) If the board of school directors does not approve the plan within ten 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. (iii) 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). (3) The secretary shall file the petition under this paragraph not later than five days following the vote by the board of school directors to disapprove the plan. (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. (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. The 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 under subsection (c) and this subsection. Added by P.L. 1142 2012 No. 141, § 10, eff. 7/12/2012.