This bill amends the Code of West Virginia to establish the "Charter School Revolving Loan Fund," which will provide low-interest loans for public charter school facility projects. The fund will be sustained through loan repayments that are recycled back into it, as well as through appropriations, grants, and donations. The Professional Charter School Board is tasked with promulgating rules to implement the fund, including application requirements and loan distribution criteria. The initial loans from this fund are expected to be distributed during the 2027 fiscal year, contingent upon legislative appropriation.

Additionally, the bill includes provisions to incorporate the Professional Charter School Board into the definition of "agency" for rule-making purposes under the State Administrative Procedures Act. This change allows the Board to adopt, amend, or repeal rules necessary to fulfill its responsibilities. The bill also outlines the requirements for the composition and operation of the Professional Charter School Board, ensuring that it operates independently from the Department of Education while still being accountable to the state board for student performance standards.

Statutes affected:
Introduced Version: 18-5G-15, 29A-3A-1, 18-5G-18