Bill > SB71

This bill modifies the Louisiana Charter School Start-Up Loan Fund by expanding its scope and administration, renaming it the Louisiana Charter School Start-Up and Expansion Loan Fund. The bill broadens the fund's purpose to provide loans to eligible charter schools for start-up, expansion, and facility-related expenses, increasing the maximum loan amount to $5 million per school. The division of administration will now manage the fund, replacing the State Board of Elementary and Secondary Education, and can enter into contracts and agreements related to loan administration. Eligible charter schools include new and existing Louisiana public charter schools authorized by local school boards or the state board. The bill establishes detailed rules for loan applications, including eligibility requirements, loan terms, and repayment provisions. Loan purposes are expanded to include predevelopment, development, facility acquisition, equipment purchases, and other start-up or expansion costs. Charter schools receiving loans must now submit a supplemental reporting schedule detailing loan expenditures, and the division of administration must provide an annual report to the legislature about the fund's activities. The bill also clarifies procedures for asset transfer if a charter school ceases operations during the loan term and requires compliance with public bidding laws for facility-related expenses.

Budget and Finance

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=SB71&sbi=y