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Senate approves $5 million revolving loan fund for charter school facilities after heated debate
Summary
The Oklahoma Senate passed HB 3372, creating a $5 million revolving loan fund to help charter schools pay for capital projects. Senators debated whether public funds could be used to improve privately owned facilities and pressed for transparency about ownership and contractual obligations.
Senator Pugh, the bill sponsor, told the Senate that House Bill 3372 would create a $5 million revolving loan fund administered by the statewide charter school board to help charter schools finance capital expenditures when they lack bonding or ad valorem capacity. He said the program is intended to relieve infrastructure needs and support growing student populations.
The measure drew sustained questioning from Senator Kurt, who said he was “deeply alarmed” that public taxpayer money could be used to improve buildings that are not publicly owned, and raised concerns about limited oversight and the state taking on administrative…
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