AR SB145

Appropriates $5,000,000 to the Department of Education - Division of Public School Academic Facilities and Transportation for the Open-Enrollment Public Charter School Facilities Loan Program as a supplement to Act 1400 of 2013.

Transfers $5,000,000 from unobligated funds in the General Improvement Fund to the Open-Enrollment Public Charter School Facilities Loan Fund Account.

Loan funds are to be distributed to open-enrollment public charter schools for construction, lease or purchase of academic facilities, repairs, improvements, additions, and credit enhancement for financing purposes.

Declares an emergency clause due to insufficient funds for the Department to continue providing essential governmental services, making the act effective immediately upon passage and approval.

Requires all fund disbursements to comply with state procurement law, accounting procedures, revenue stabilization law, and other applicable fiscal control laws under Department of Finance and Administration regulations.