(a) The agency may approve the transfer of property described by § 12.128 from an open-enrollment charter school that has ceased to operate, or may transfer property conveyed to the agency by the former charter holder under § 12.1281, to a school district or an open-enrollment charter school if:
(1) the open-enrollment charter school or school district receiving the property:
(A) agrees to the transfer; and
(B) agrees to identify the property as purchased wholly or partly using state funds on the school’s annual financial report filed under § 44.008;
(2) any creditor with a security interest in or lien on the property described by § 12.128(e) agrees to the transfer; and
(3) the transfer of the property does not make the open-enrollment charter school or school district receiving the property insolvent.
(b) Property received by an open-enrollment charter school or school district under this section is considered to be state property under § 12.128(a).

(c) The commissioner may adopt rules necessary to administer this section, including rules establishing qualifications and priority for a school district or open-enrollment charter school to receive a transfer of property under this section.
(d) If the agency determines that the cost of disposing of personal property described by § 12.128 transferred to the agency by an open-enrollment charter school that ceases to operate exceeds the return of value from the sale of the property, the agency may distribute the personal property to open-enrollment charter schools and school districts in a manner determined by the commissioner.
(e) A determination by the agency under this section is final and may not be appealed.