AB 948 Summary

• Establishes the Charter School Facility Grant Program, administered by the California School Finance Authority, to provide up to $750 per unit of average daily attendance (maximum 75% of annual facilities rent and lease costs) to eligible charter schools

• Expands grant eligibility to charter schools with 70% or more of pupils eligible for free or reduced-price meals, or located in attendance areas meeting this threshold with admissions preferences for enrolled pupils

• Requires the California School Finance Authority to expand eligibility to additional charter schools in years with remaining funds by reducing the free and reduced-price meals threshold down to a minimum of 60%

• Establishes a three-apportionment schedule (50% by August 31, 75% by March 1, and remainder within 30 days of fiscal year end) to distribute grant funds to eligible charter schools

• Requires charter schools to undergo annual audits consistent with Section 41020 and designates the California School Finance Authority as senior creditor for audit finding satisfaction