CA SB631

Increases the maximum loan amount from the Charter School Revolving Loan Fund from $250,000 to $500,000 over the lifetime of a charter school

Sets loan interest rates at either the Pooled Money Investment Account rate or 50% of the most recent state general obligation bond rate, whichever is less, with a floor of 3%

Extends the maximum repayment period to 5 years for standard loans and up to 8 years for charter schools damaged by Governor-declared state emergencies

Expands liability for loan defaults to include both the charter school and its managing entity, rather than the charter school alone

Requires the California School Finance Authority to submit annual fund condition reports to legislative education and budget committees, with a 2029 report including analysis of how loan funds were spent by recipients