Bill > H0256

This bill amends existing Idaho law to modify the Public Charter School Facilities Program, which helps charter schools obtain favorable financing for facility improvements and construction. The bill revises several key provisions, including changing the eligibility requirements for charter schools to participate in the program. Schools must now provide more detailed documentation, such as letters of commitment from financial institutions, evidence of academic and financial performance, budget projections, and audit information. The bill also adjusts the program's financial limitations, replacing the previous complex calculation for bond issuance with a straightforward cap of $500 million in outstanding bonds. Additionally, the bill modifies the process for handling potential defaults, including how funds are transferred and repaid if a charter school fails to meet its financial obligations. Participating schools must agree to have a 12-month debt service reserve account and allow the state to directly intercept educational funding payments to ensure bond repayment. The bill includes technical language changes, such as replacing "must" with "shall" throughout the text, and will go into effect on July 1, 2025, with an emergency clause to emphasize its immediate importance.

Education

Education Committee (H)

https://legislature.idaho.gov/sessioninfo/2025/legislation/H0256/