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 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 public charter school facilities program fund, which will be continuously appropriated for the program's purposes, and specifies that participating schools will incur a one-time fee and an annual fee based on their bond issuance.

Additionally, the bill introduces new limitations on the issuance of bonds under the program, ensuring that the maximum aggregate annual debt service does not exceed the available funds in the public charter school facilities program fund. It also clarifies that bonds issued for the benefit of public charter schools are not state indebtedness but are special obligations payable solely from revenues pledged by the schools. The bill declares an emergency, making it effective on July 1, 2025.

Statutes affected:
Bill Text: 33-5218