| 1 | 1 | | 88R4197 DIO-F |
|---|
| 2 | 2 | | By: Gervin-Hawkins H.B. No. 1122 |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | |
|---|
| 5 | 5 | | A BILL TO BE ENTITLED |
|---|
| 6 | 6 | | AN ACT |
|---|
| 7 | 7 | | relating to a financial assistance program for open-enrollment |
|---|
| 8 | 8 | | charter school facilities. |
|---|
| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 10 | 10 | | SECTION 1. Subchapter D, Chapter 12, Education Code, is |
|---|
| 11 | 11 | | amended by adding Section 12.1063 to read as follows: |
|---|
| 12 | 12 | | Sec. 12.1063. FINANCIAL ASSISTANCE FOR FACILITIES. (a) |
|---|
| 13 | 13 | | Using funds appropriated or otherwise available for the purpose, |
|---|
| 14 | 14 | | the commissioner shall develop and implement a program under which |
|---|
| 15 | 15 | | the state provides financial assistance to a charter holder seeking |
|---|
| 16 | 16 | | to construct or acquire adequate facilities for student |
|---|
| 17 | 17 | | instruction. |
|---|
| 18 | 18 | | (b) The program may include: |
|---|
| 19 | 19 | | (1) the provision of forgivable loans, including loans |
|---|
| 20 | 20 | | for a period of not more than 25 years structured so that each year |
|---|
| 21 | 21 | | that the charter holder successfully operates the open-enrollment |
|---|
| 22 | 22 | | charter school, the charter holder is released from the obligation |
|---|
| 23 | 23 | | to pay that year's portion of the loan; |
|---|
| 24 | 24 | | (2) a loan guarantee process for a charter holder that |
|---|
| 25 | 25 | | has successfully operated an open-enrollment charter school for at |
|---|
| 26 | 26 | | least five years; and |
|---|
| 27 | 27 | | (3) the provision of assistance to charter holders in |
|---|
| 28 | 28 | | obtaining loans for facilities directly from private lenders. |
|---|
| 29 | 29 | | (c) The commissioner shall adopt rules necessary to |
|---|
| 30 | 30 | | implement this section. |
|---|
| 31 | 31 | | SECTION 2. This Act takes effect September 1, 2023. |
|---|