Bill > HB620

This bill establishes a new financial assistance program for open-enrollment charter schools in Texas to help them construct or acquire educational facilities. The program, to be developed and implemented by the state commissioner of education using available funds, will offer several forms of financial support: forgivable loans that can last up to 25 years and are progressively forgiven each year the charter school successfully operates; loan guarantees for charter holders that have been operating for at least five years; and assistance in helping charter holders obtain loans directly from private lenders. An important context is that charter schools often struggle to secure funding for facilities, as they typically do not receive the same local property tax support that traditional public schools do. The bill requires the commissioner to adopt rules to implement this program, and it is set to take effect on September 1, 2025. This represents a significant effort to address the facilities funding challenges faced by charter schools by providing multiple financial mechanisms to support their infrastructure needs.

Education

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB620