Bill Text: TX HB43 | 2023 | 88th Legislature 3rd Special Session | Introduced
Bill Title: Relating to a financial assistance program for open-enrollment charter school facilities.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2023-10-06 - Filed [HB43 Detail]
Download: Texas-2023-HB43-Introduced.html
| 88S30098 BDP-F | ||
| By: Gervin-Hawkins | H.B. No. 43 | |
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| relating to a financial assistance program for open-enrollment | ||
| charter school facilities. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter D, Chapter 12, Education Code, is | ||
| amended by adding Section 12.1063 to read as follows: | ||
| Sec. 12.1063. FINANCIAL ASSISTANCE FOR FACILITIES. (a) | ||
| Using funds appropriated or otherwise available for the purpose, | ||
| the commissioner shall develop and implement a program under which | ||
| the state provides financial assistance to a charter holder seeking | ||
| to construct or acquire adequate facilities for student | ||
| instruction. | ||
| (b) The program may include: | ||
| (1) the provision of forgivable loans, including loans | ||
| for a period of not more than 25 years structured so that each year | ||
| that the charter holder successfully operates the open-enrollment | ||
| charter school, the charter holder is released from the obligation | ||
| to pay that year's portion of the loan; | ||
| (2) a loan guarantee process for a charter holder that | ||
| has successfully operated an open-enrollment charter school for at | ||
| least five years; and | ||
| (3) the provision of assistance to charter holders in | ||
| obtaining loans for facilities directly from private lenders. | ||
| (c) The commissioner shall adopt rules necessary to | ||
| implement this section. | ||
| SECTION 2. This Act takes effect on the 91st day after the | ||
| last day of the legislative session. | ||
