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Senate panel advances bill to expand charter school credit-enhancement capacity
Summary
The Senate Education Committee voted to give House Bill 331 a due-pass recommendation to the floor after testimony from charter-school leaders and finance partners; the bill changes the formula and lifts a cap on a state-backed credit enhancement program that lowers charter-school borrowing costs.
The Idaho Senate Education Committee voted to send House Bill 331 to the full Senate with a due-pass recommendation after testimony from charter-school leaders and finance partners about the state’s public charter school credit-enhancement program.
Senator Lori Denhartau, the bill sponsor, told the committee the measure changes the program’s formula and lifts the cap so more high-performing charter schools can participate. “We have had 18 charter schools that have been able to use this credit enhancement tool and it has lowered the interest rate on their bonds by approximately 2%,” Denhartau said. She added that the statutory transfer into the Charter School Facilities Fund has already occurred and that the bill itself does not require new appropriations.
Multiple charter-school executives and finance specialists told the committee the program lowers borrowing costs and…
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