S1690: Charter School Revolving Loan Program

Legislative Summary

Establishing the program for a specified purpose; providing that funding for the program shall consist of specified funds; requiring the Department of Education to contract with a third-party administrator to administer the program; requiring all loan documents to include specified language and be expressly agreed to by the third-party administrator and loan recipients; requiring the third-party administrator to electronically provide copies of certain loan documents to the department; requiring all repayments of principal and interest to be returned to the loan fund and made available for loans to other applicants, etc.