This bill amends Section 33-5218 of the Idaho Code to enhance the Public Charter Schools Facilities Program, which aims to assist qualifying charter schools in obtaining favorable financing for facility improvements and construction. Key changes include the requirement that public charter schools seeking to participate in the program "shall" receive approval from the Idaho housing and finance association and submit specific documentation to demonstrate their eligibility. The bill also establishes a public charter school facilities program fund, which will be continuously appropriated for the program's purposes, and outlines the fees that participating schools must pay.

Additionally, the bill introduces provisions regarding the management of a restricted debt service reserve account for participating schools, detailing the conditions under which funds can be withdrawn. It clarifies that bonds issued under this program are not state indebtedness but are special obligations payable solely from revenues pledged by the charter schools. The bill also modifies limitations on the total debt service of bonds issued under the program, ensuring that it does not exceed the capacity of the public charter school facilities program fund. An emergency clause is included, making the act effective on July 1, 2025.

Statutes affected:
Bill Text: 33-5218