HI SB849

Authorizes the State Public Charter School Commission to request general obligation bonds from the director of finance to assist public charter schools with design, planning, construction, repair, and maintenance of facilities.

Specifies that any public charter school facilities constructed with bond proceeds shall be owned by the State.

Establishes a charter school facilities funding working group consisting of the commission chairperson, executive director, director of finance, assistant superintendent for school facilities, and chairs of the senate and house finance committees to advise on bond allocation criteria and establish spending oversight procedures.

Requires the commission to submit an annual report to the legislature at least 20 days before each regular session detailing allocation criteria, bond distribution to schools, and funded projects.

Authorizes bond issuance and appropriation for fiscal year 2015-2016 with funds remaining unencumbered as of June 30, 2018, to lapse at that date; effective July 1, 2050.