Nonprofit foundations run by the leaders of high-tech giants such as Dell and Microsoft could be in line to take control of low-performing Texas schools, under a law signed last week by Republican Gov. Rick Perry.

The law gives low-performing schools in the state four years to improve before they are either permanently closed or taken over by a "qualified" nonprofit organization.

Eleven Texas schools, awaiting the release of the state's annual rankings in August, must show improvement or they'll be subject to the sanctions, according to an Associated Press

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