HI HB2576

Establishes the Hawaii charter school facility development special fund within the Department of Education to acquire, plan, design, improve, construct, equip, and maintain charter school facilities.

Creates an income tax credit for taxpayers contributing money or in-kind goods and services to charter school facility development, with a per-taxpayer annual cap and aggregate annual cap on total certified contributions.

Allows the special fund to receive contributions, grants, endowments, gifts, loans, and bond financing from corporations, businesses, foundations, government entities, individuals, and other sources.

Permits the state public charter school commission to pledge fund moneys to secure loans from private lending institutions for financially sound charter schools.

Appropriates funds from general revenues to the special fund for fiscal year 2014-2015 and authorizes expenditures from the special fund for charter school facility development, effective July 1, 2050.