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Senate approves charter school finance bill that uses state 'moral obligation' credit enhancement
Summary
Senate Bill 152, a charter-school financing measure allowing state-backed moral-obligation credit enhancement for investment-grade charters and seeding a $3 million reserve, passed the Senate after floor amendment and debate over taxpayer protections and expected interest savings.
The Utah Senate on Feb. 14 passed Senate Bill 152, a charter-school financing measure that uses a state "moral obligation" credit enhancement to lower borrowing costs for qualifying charter schools and establishes a reserve account to protect taxpayers.
Senator Valentine, sponsor of the bill, explained an adopted Amendment No. 2 that requires mutual agreement in the closure process for qualifying charter schools. He told…
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