Louisiana Senate Bill SB249

Louisiana 2015 Regular Session

• Introduced: 4/3/15
• Refer: 4/3/15
• Refer: 4/13/15
• Report Pass: 5/18/15
• Engrossed: 5/21/15
• Refer: 5/26/15

Caption

Creates the School Choice Loan Fund. (gov sig) (RE SEE FISC NOTE SD EX)

Impact

The bill directly impacts state laws regarding educational financing by establishing a structured approach for supporting school choice initiatives. Funds must be used solely for specific purposes, such as purchasing equipment, technology, and facility improvements, with any unspent funds remaining in the loan fund. Additionally, it stipulates that any equipment or property acquired with these loans will become state property if the loan is not repaid. This facilitates a mechanism for improving educational resources while holding schools accountable for the funds they receive.

Summary

Senate Bill 249 aims to create the School Choice Loan Fund, designed to provide low-interest loans for qualified schools to support the establishment of new schools or the expansion of existing ones. The fund will be maintained within the state treasury and will consist of appropriated funds, grants, and other financial assistance directed towards its objectives. It is the responsibility of the State Board of Elementary and Secondary Education (BESE) to oversee the loans and create rules related to their application, usage, and repayment.

Sentiment

The sentiment surrounding SB249 is generally positive among those who advocate for school choice and expanded educational options. Proponents see the fund as a crucial step towards empowering schools, especially public ones, to enhance their offerings and infrastructure. However, some skepticism exists regarding the prioritization of funds, as the bill initially included provisions for nonpublic schools but later removed them, which raised concerns about fairness and equal access to educational resources.

Contention

A notable point of contention relates to the limitations imposed on how loan funds can be used. Critics may argue that by restricting funds to specific purposes, the bill could inadvertently limit the flexibility schools need to address diverse operational challenges. Furthermore, the requirement for BESE to seek guidance from the Louisiana Office of Financial Institutions in the loan approval process adds a layer of bureaucratic oversight that some may view as cumbersome.