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