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Senate Education advances bill to change charter-school credit-enhancement formula, lift cap
Summary
The committee voted to send House Bill 331 to the Senate floor with a due-pass recommendation after testimony that the bill would change the formula and lift a cap on Idaho’s charter-school credit enhancement, increasing the number of charter facilities that could access lower-cost financing.
The Senate Education Committee voted to send House Bill 331 to the Senate floor with a due-pass recommendation after a presentation from its sponsor and testimony from charter-school leaders and lenders.
State Senator Lori Denhartauge (District 22) told the committee the bill replaces the existing formula that determines program capacity and lifts the prior cap so more public charter schools can use the credit-enhancement tool administered alongside the Charter School Revolving Loan Fund. Denhartauge said the statutory transfer into the revolving loan fund already occurred and that the change does not require new appropriations; it revises how program capacity is calculated.
Witnesses described how the credit-enhancement program lowers borrowing costs and frees local resources for classrooms. Monica White, CEO and…
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