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Senate Education committee sends House Bill 331 to floor to expand charter school credit enhancement program
Summary
The committee voted to send House Bill 331 to the Senate floor with a due‑pass recommendation. Sponsor Sen. Lori Den Hartog told the committee the bill changes the formula and lifts a cap so more charter schools can use a state-backed credit enhancement that lowers borrowing costs.
The Senate Education Committee voted to send House Bill 331 to the Senate floor with a due pass recommendation after State Sen. Lori Den Hartog, sponsor of the measure, described changes to the state’s charter school credit enhancement program.
Den Hartog told the committee the bill replaces the existing formula and lifts a cap so more public charter schools can participate. "By changing the formula and lifting the cap, it allows more schools to participate," she said. The sponsor said the change does not require new appropriations: funds for the charter school revolving loan fund already reside in state code and a scheduled transfer will increase program capacity.
How the program works: The credit enhancement is not direct state lending, Den Hartog said; rather, it uses the state’s…
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