STATEMENT OF PURPOSE
RS31016C1 / H0529
The Public Charter School Revolving Loan Fund was established July 1, 2023, after S1043 became law. The
purpose of the law is to provide new public charter schools with a zero percent interest loan of up to $2.5 million
to assist the schools with facility acquisition, construction or renovation. The Idaho Housing and Finance
Association (IHFA) administers the loan. Upon implementation, it was discovered that a technical correction
needed to be made to the statute. The State Treasurer needs to direct that funds from the public charter school
revolving loan fund be withdrawn and distributed to the school upon certification by IHFA that school meets
the loan requirements. This proposed legislation includes that correction. This amendment is needed because
IHFA does not have authority to withdraw and distribute funds from the public charter school revolving loan
fund.
FISCAL NOTE
There is no fiscal impact to the state because this legislation only provides a necessary administrative step for
implementing the already established public charter school revolving loan fund.
Contact:
Representative Wendy Horman
Senator Lori Den Hartog
(208) 332-1000
DISCLAIMER: This statement of purpose and fiscal note are a mere attachment to this bill and prepared by a proponent
of the bill. It is neither intended as an expression of legislative intent nor intended for any use outside of the legislative
process, including judicial review (Joint Rule 18).
Statement of Purpose / Fiscal Note Bill SOP/FN INTRODUCED: 02/09/2024, 8:57 AM


Statutes affected:
Bill Text: 33-5217