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FL S1690
Bill
AI Summary
- Establishes the Charter School Revolving Loan Program to provide charter school operators with financing assistance for school building and facilities projects
- Requires the Department of Education to contract with a third-party administrator that has an "A" or higher credit rating, expertise in charter school lending, and the ability to leverage legislative funds
- Loans made through the program do not imply the full faith and credit of the state nor any guarantee of creditworthiness, project viability, or ability to repay
- All repayments of principal and interest must be returned to the revolving loan fund for future loans, and interest earned may be used to cover program administration costs
- Appropriates $10 million in nonrecurring General Revenue funds for fiscal year 2022-2023 to create the program, with an effective date of July 1, 2022
Legislative Description
Charter School Revolving Loan Program
Last Action
Died in Appropriations Subcommittee on Education
3/14/2022
Committee Referrals
Appropriations Subcommittee on Education2/2/2022
Full Bill Text
No bill text available