HF 3176 Summary

• Modifies charter school authorizer approval process requiring commissioner review within 60 business days and applicants to demonstrate capacity in oversight, application criteria, contracting, and renewal processes.

• Creates Charter School Facilities Commission with 8 members to review and approve charter school bond issuances and facility projects, with endorsed charter schools eligible for facilities aid and credit enhancement account funding.

• Establishes conflict of interest provisions prohibiting charter school board members from serving if they have financial interests in entities contracting with the school, with violations rendering contracts voidable.

• Authorizes endorsed charter schools to borrow money through bond issuance for facility construction or purchase, with state payment of principal and interest obligations upon default, subject to facilities aid limitations of 84 percent of debt service or $1,120 per pupil unit.

• Repeals previous affiliated nonprofit building corporation provisions and modifies related party lease cost restrictions, requiring nonprofit lessor status and reasonable pricing under building lease aid standards.