Signed by Governor Jim Justice, Jr.

Vote Smart's Synopsis:

Vote to pass a bill that amends and authorizes public charter schools in West Virginia to apply for funding from the School Building Authority for renovation, remodeling, or construction projects, while outlining conditions for funding allocation and ownership of facilities upon closure.

Highlights:

• Authorizes for up to 10% of available funds be allocated for projects that serve the educational community statewide (Article 9D, Sec. 15).

• Authorizes the creation of an emergency fund containing 2% of available funds (Article 9D, Sec. 15).

• Requires the county boards to provide annual maintenance expenditure data to assess project merit and ensure accountability (Article 9D, Sec. 15).

• Allows the country board to facilitate a loan to cover initial payments for projects they approve through a lease-purchase agreement (Article 9D, Sec. 15).

• Specifies that if a country board fails to renew a lease annually until the investment contract is pulley performed it defaults on the loan and the principal and any unpaid interest can become due immediately or renegotiated (Article 9D, Sec. 15).

• Specifies that the authority will give preference to projects that involve collaboration between multiple counties to maximize efficiency and resource usage (Article 9D, Sec. 15).

• Requires any project funded by the authority be in compliance with a comprehensive educational facility plan approved by the state board and authority (Article 9D, Sec. 15).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that amends and authorizes public charter schools in West Virginia to apply for funding from the School Building Authority for renovation, remodeling, or construction projects, while outlining conditions for funding allocation and ownership of facilities upon closure.

Highlights:

• Authorizes for up to 10% of available funds be allocated for projects that serve the educational community statewide (Article 9D, Sec. 15).

• Authorizes the creation of an emergency fund containing 2% of available funds (Article 9D, Sec. 15).

• Requires the county boards to provide annual maintenance expenditure data to assess project merit and ensure accountability (Article 9D, Sec. 15).

• Allows the country board to facilitate a loan to cover initial payments for projects they approve through a lease-purchase agreement (Article 9D, Sec. 15).

• Specifies that if a country board fails to renew a lease annually until the investment contract is pulley performed it defaults on the loan and the principal and any unpaid interest can become due immediately or renegotiated (Article 9D, Sec. 15).

• Specifies that the authority will give preference to projects that involve collaboration between multiple counties to maximize efficiency and resource usage (Article 9D, Sec. 15).

• Requires any project funded by the authority be in compliance with a comprehensive educational facility plan approved by the state board and authority (Article 9D, Sec. 15).

Full Bill Text