Plain English Breakdown
Checked against official source text during the last sync.
Georgia Charter School Facilities Authority
This law creates a new group called the Georgia Charter School Facilities Authority to help charter schools get money for building and fixing school buildings.
What This Bill Does
- Establishes the Georgia Charter School Facilities Authority.
- Enables charter schools to obtain revolving loan funds and other public financing assistance.
- Allows these funds to be used for constructing, renovating, and rehabilitating educational facilities.
- Authorizes the Georgia State Financing and Investment Commission to issue general obligation bonds for these projects.
Who It Names or Affects
- Charter schools in Georgia
- The new Georgia Charter School Facilities Authority
- The Georgia State Financing and Investment Commission
Terms To Know
- Revolving loan funds
- Money that is lent out to schools, paid back with interest, and then available to be lent again.
- General obligation bonds
- Loans issued by the state government where taxpayers promise to pay them back.
Limits and Unknowns
- The text does not list specific dollar amounts for the loans or bonds.
- The exact date when this law takes effect is not provided in the source material.