House Bill #309

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TO:  Coalition of Idaho Charter School Families & Charter School Stakeholders

 

 

House Bill #309 - the Public Charter School Debt Reserve passed the House Education Committee unanimously on Thursday, March 26 and just passed the full House this morning. It now needs to pass the SENATE.  Senators need to hear from charter school stakeholders to know they support this!

 

Idaho’s public charter schools struggle to afford facilities and many tools for traditional public schools are not available to public charter schools.  House Bill #309 creates a debt reserve to help qualifying public charter schools obtain lower interest rates on loans in a manner similar to what is already available to traditional public schools.

 

When public charter schools purchase or improve facilities, they begin by borrowing from private lenders.  However, they generally have little equity or collateral to offer.  As a result, the interest rates on their loans are generally high.  With the creation of a debt reserve, qualifying charter schools could point to the fund as assurance to the lender that, in the event of default, monthly payments could be made out of the fund for a limited period of time.  With this backstop, the bank will offer lower interest rates on loans.  Schools would have to be approved by the Idaho housing and finance association to rely on the fund, and only those that demonstrate strong financials – and thus a low-likelihood of defaulting on the loan – would qualify.     

 

Bill details:  

http://legislature.idaho.gov/legislation/2015/H0309.htm

Senators' contact info:

http://legislature.idaho.gov/senate/membership.cfm

Action Alert!

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ACTION ALERT 

on School Funding Bill H126!!!

 

To:  Charter, Virtual, Alternative & Rural Schools

From: Jane Wittmeyer & Cindy Hoovel 

Co-sponsored by Rep Judy Boyle & Rep Steven Harris

 

What?   We need your help NOW to support Bill #H126 in the Idaho legislature!


Why? H126 will give many schools - particularly alternative schools, virtual schools, charter schools, and rural schools - the option of choosing the BEST of either the mid term vs. full term enrollment for purposes of funding salary based apportionment. This change will more fully fund students who change schools after the first 10 weeks of school. Your school would have received more funding for the 2014-15 year if this were the case.

When?  The hearing is schedule in the House Education Committee in the Capitol on Tuesday, February 24 in the morning. (We don't know the time yet, but it probably will start between 8-9AM.)  Please make your contacts prior to this date.  We invite you to attend and if you (students/families/board members/administrators) can testify to the importance of your school and this bill, please let Cindy Hoovel know by this Friday 20 afternoon so she can get you on the agenda!

 

Link to full details of bill #H126:  

http://www.legislature.idaho.gov/legislation/2015/H0126.htm

Link to contact information for your legislators & the education committees:

http://legislature.idaho.gov/howtocontactlegislators.htm