This bill amends Section 33-5218 of the Idaho Code to enhance the Public Charter School Facilities Program, which aims to assist qualifying charter schools in obtaining favorable financing for facility improvements and construction. Key changes include the requirement for public charter schools to receive approval from the Idaho housing and finance association to participate in the program, with the term "must" replaced by "shall" to emphasize this obligation. The bill also establishes a new limit on the total par amount of bonds issued under the program, setting it at five hundred million dollars ($500,000,000) or the maximum aggregate annual debt service of all outstanding bonds, whichever is greater.

Additionally, the bill introduces technical corrections and clarifications regarding eligibility criteria, documentation requirements, and the management of funds within the program. It specifies that the public charter school facilities program fund will be continuously appropriated for its intended purposes and outlines the procedures for handling nonpayment and default situations. The bill declares an emergency, making it effective on July 1, 2025.

Statutes affected:
Bill Text: 33-5218