NY A06150

Establishes the New York State Education Equity Fund under joint custody of the state comptroller and commissioner of taxation and finance to finance capital costs for public charter school facilities.

Allocates up to $75 million for investments in private debt or equity funds and not-for-profit loan funds, plus up to $125 million in direct grants to eligible charter school applicants for construction, renovation, and equipment costs.

Requires the Dormitory Authority of the State of New York (DASNY) to prioritize minority-led education corporations and set a goal to award 60% of funding to applicants serving communities with racial disparities in education, low academic outcomes, or high rates of economically disadvantaged students.

Restricts grant eligibility to applicants operating or managing ten or fewer charter schools, with applicants managing more than three schools limited to loans only, and prohibits sales or transfers of facilities within ten years unless the charter is surrendered, revoked, or terminated.

Requires DASNY to prepare annual reports detailing applications received and approved, financing amounts awarded, demographic information on awardees, and geographic distribution of funded charter school facilities.