Two New Laws Remove Facilities Finance Hurdles for Idaho’s Public Charter Schools

Boise, Idaho – March 23, 2023 — Idaho’s public charter schools receive fewer taxpayer dollars than their district counterparts for facilities. To address this challenge, Idaho’s legislature and Governor Brad Little have enacted SB 1042 and SB 1043 into law.

SB 1042 deals with credit enhancement for charter schools, seeking to assist established charter schools in obtaining lower interest rates on bonds. Previous legislation had created a credit enhancement financing tool, but it has reached its statutory cap. SB 1042 amends the existing statute to raise the cap on the overall capacity of the tool, allowing more schools to participate.

SB 1043 creates a revolving loan fund to help new and recently established public charter schools obtain lower interest rates on loans so that more taxpayer dollars stay in the classroom instead of being redirected towards high-interest facility loans.

“Together these two pieces of legislation will reduce the financial hurdles Idaho’s high-performing charter schools face in financing their public school facilities,” says Blake Youde, Executive Director of Idaho Charter School Network.

The Idaho Charter School Network would like to acknowledges the leadership of Senator Lori Den Hartog, Senator Chuck Winder, Representative Wendy Horman, Representative Lance Clow, and Representative Julie Yamamoto for their instrumental work in championing these bills. The two new laws will take effect July 1, 2023.