Bill Summary – FastDemocracy

WEST VIRGINIA LEGISLATURE
REGULAR SESSION
                Introduced Senate Bill 47                          FISCAL
                                                     NOTE
                By Senator Rucker [Introduced January 11, 2023; referred to
  the Committee on School Choice; and then to the Committee on Finance]
     Intr SB 47                                 2023R1498
  A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section,
         designated §18-5G-17, relating to creating the Charter Schools Stimulus Fund to provide
         financial support to charter school applicants and charter schools that may not otherwise
         have the resources for start-up costs and costs associated with renovating or remodeling
         existing buildings and structures; requiring State Board of Education rules; specifying
         requirements the rules are to include; requiring the West Virginia Professional Charter
         School Board to distribute moneys from the fund to qualifying charter school applicants
         and charter schools; specifying the manner of distribution; and requiring reimbursement of
         grant amount plus interest if the recipient has not begun operating a charter school within
        the next 18 months.
     Be it enacted by the Legislature of West Virginia:
     ARTICLE 5G. PUBLIC CHARTER SCHOOLS.
     §18-5G-17. Charter Schools Stimulus Fund.
         (a) There is hereby created in the State Treasury a special revenue fund designated and
  known as the Charter Schools Stimulus Fund. The fund is established for the purpose of providing
  financial support to charter school applicants and charter schools that may not otherwise have the
  resources for start-up costs and costs associated with renovating or remodeling existing buildings
  and structures. The fund consists of moneys appropriated by the Legislature, grants, gifts,
  devises, and donations from any public or private source. All interest and other returns derived
  from the deposit and investment of moneys in the Charter Schools Stimulus Fund shall be credited
  to the fund. Any balance, including accrued interest and other returns, remaining in the fund at the
  end of each fiscal year shall not revert to the General Revenue Fund, but shall remain in the fund
 and be expended as provided in this section. The West Virginia Professional Charter School
 Board shall administer the fund.
        (b) On or before June 1, 2023, the state board of education shall promulgate legislative
 rules pursuant to §29A-3B-1 et seq. to implement the provisions of this section. If necessary to
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     Intr SB 47                                   2023R1498
 meet the June 1, 2023, deadline, the state board shall promulgate an emergency rule. The rules
 shall include application requirements, requirements for the West Virginia Professional Charter
 School Board to notify potential applicants, and a requirement for the applicant to attest to or
 demonstrate that it:
        (1) Would not otherwise have the financial capacity without moneys from the Charter
 Schools Stimulus Fund to:
        (A) Successfully apply to an authorizer; or
        (B) Start a public charter school; and
        (2) Is not working with or financed by any organization that has started or financed other
 charter schools to the degree that facilitating and starting charter schools is a significant portion of
 the organization’s purpose.
        (c) Subject to the availability of funding, the West Virginia Professional Charter School
 Board shall distribute moneys from the Charter Schools Stimulus Fund to qualifying charter school
 applicants and charter schools in the following manner:
        (1) Each qualifying charter school applicant or charter school shall be awarded an initial
 grant of up to $100,000 during or before the first year of the charter school’s operation. If an
 applicant for a charter school receives an initial grant pursuant to this paragraph and fails to begin
 operating a charter school within the next 18 months, the applicant shall reimburse the West
 Virginia Professional Charter School Board for the amount of the initial grant plus interest
 calculated at a prorated rate of 10 percent a year: Provided, That the West Virginia Professional
 Charter School Board may lengthen this 18-month time period in extenuating circumstances;
        (2) Applicants for charter schools and charter schools that received initial grants pursuant
 to subdivision (1) of this section may apply to the West Virginia Professional Charter School Board
 for an additional grant of up to $100,000. If an applicant for a charter school receives an additional
 grant pursuant to this paragraph and fails to begin operating a charter school within the next 18
 months, the applicant shall reimburse the West Virginia Professional Charter School Board for the
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     Intr SB 47                                2023R1498
 amount of the additional grant plus interest calculated at a prorated rate of 10 percent a year:
 Provided, That the West Virginia Professional Charter School Board may lengthen this 18-month
 time period in extenuating circumstances. A reimbursement required by this subdivision is in
 addition to any reimbursement required by subdivision (1) of this subsection.
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Statutes affected: 
Committee Substitute for the Committee Substitute: 18-5G-17
Enrolled Version: 18-5G-17
Committee Substitute: 18-5G-17
Introduced Version: 18-5G-17