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Charter lease aid: 30% of lease payments up to $50,000; payments prorated if demand exceeds appropriation
Summary
The department described charter school lease aid that covers 30% of annual leased building rent up to $50,000; when appropriations fall short the department prorates payments. The department noted recent charter closures did not receive lease aid and payments are annual and reimbursement‑based.
Tim Kearney reviewed the charter school lease aid program, explaining the department pays 30% of a charter school’s annual lease payment up to a $50,000 cap and that the program is funded from the Education Trust Fund.
Why it matters: charter schools that do not own facilities rely on lease aid to defray facility costs;…
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