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Assembly committee advances bill to widen access to charter school revolving loan fund
Summary
The Assembly Education Committee voted to pass SB 631 as amended, which expands eligibility and loan size for the Charter School Revolving Loan Fund so more charter schools — including those affected by disasters — can seek low-interest loans.
Senator Richardson presented SB 631 to the Assembly Education Committee, asking the panel to approve technical amendments and to broaden access to the existing charter school revolving loan fund. The committee voted to pass the bill as amended to appropriations by a 9-0 margin.
The bill would modify the Charter School Revolving Loan Fund, established in 1996, which provides low-interest loans of up to $250,000 to new charter schools. Senator Richardson said the California School Finance Authority (CSFA) and the…
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