As used in this part:

1. (1) “Academic” means any activity, objective, or purpose that is reasonably necessary for and related to a school district’s provision of instruction to students permitted or required by state or federal law;
2. (2) “Academic Facilities Master Plan” has the same meaning as in the Commission for Arkansas Public School Academic Facilities and Transportation Rules Governing the Facilities Master Plan, 6 CAR pt. 322;
3. (3) “Academic facility” has the same meaning as in the Commission for Arkansas Public School Academic Facilities and Transportation Rules Governing the Facilities Master Plan, 6 CAR pt. 322;
4. (4) “Administrative” means an activity, objective, or purpose that is reasonably necessary for and related to the suitable and efficient operation of a school district in its provision of an adequate education to each of its students;
5. (5) “Charter school authorizer” has the same meaning as “authorizer” in Arkansas Code § 6-23-103;
6. (6) “Division” means the Division of Public School Academic Facilities and Transportation;
7. (7) “Educational” means an activity, objective, or purpose that is reasonably necessary for and related to a school district’s provision of an education to students as permitted or required by state or federal law;
8. (8) “Extracurricular” means an activity sponsored by the school district or the Arkansas Activities Association for the district’s students that falls outside the realm of the normal curriculum;
9. (9) “Fair market value” means the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts;

10. (10) “Public charter school” means:

    1. (A) An open-enrollment public charter school as defined in Arkansas Code § 6-23-103;
    2. (B) An eligible entity as defined in Arkansas Code § 6-23-103 that applies to authorize, amend, or renew a charter for an open-enrollment public charter school; and

    3. (C) A legal entity that is affiliated with or acting on behalf of an:

       1. (i) Open-enrollment public charter school; or
       2. (ii) Eligible entity;
11. (11) “Public school facility” has the same meaning as in the Commission for Arkansas Public School Academic Facilities and Transportation Rules Governing the Facilities Master Plan, 6 CAR pt. 322;

12. (12) “Regular basis” means:

    1. (A) For public school facilities that by their nature are ordinarily characterized by intermittent use, such as auditoriums, gymnasiums, and athletic facilities, the facility is used no fewer than ten (10) times per school year; and
    2. (B) For all other public school facilities, the facility is used on no fewer than ninety (90) days per school year;
13. (13) “School district” has the same meaning as in the Commission for Arkansas Public School Academic Facilities and Transportation Rules Governing the Facilities Master Plan, 6 CAR pt. 322;
14. (14) “Significant portion” means that a school district must use at least forty percent (40%) or more of the gross square footage of a public school facility on a regular basis; and

15. (15)

    1. (A) “Unused or underutilized public school facility” means a public school facility or other real property owned by a public school that:

       1. (i) As a whole or in significant portion is not being used for a public educational, academic, extracurricular, or administrative purpose;
       2. (ii) The nonuse or underutilization threatens the integrity or purpose of the public school facility or other real property as a public education facility; and
       3. (iii) As of August 1, 2017, is not subject to a lease to a third party for fair market value or an executed offer to purchase by a third party for fair market value.
    2. (B) A public school facility shall not be considered underutilized if the district does not have other available school district spaces in which it can reasonably satisfy the educational, academic, extracurricular, or administrative activities being conducted in the facility.
    3. (C) Use of a public school facility solely for commercial purposes or for generating revenue for the district shall not constitute an educational, academic, extracurricular, or administrative purpose.