Ark. Code Ann. § 6-23-508: Facilities funding for open-enrollment public charter schools

(a) The Department of Education may: (1) Provide for an open-enrollment public charter school facilities funding program, subject to appropriations by the General Assembly; (2) (A) Contract with a third-party administrator to administer the program established under subdivision (a)(1) of this section. (B) Funds shall be granted to the third-party administrator to create a revolving loan fund for the purpose of financing open-enrollment public charter school facilities projects under this section; and (3) Establish procedures for administering the fund program established under subdivision (a)(1) of this section. (b) Eligible open-enrollment public charter schools shall be in academic and financial good standing, as determined by the State Board of Education. (c) The state board may promulgate rules to implement this section. Added by Act 2023, No. 237,§ 50, eff. 3/8/2023.

(a) The Department of Education may: (1) Provide for an open-enrollment public charter school facilities funding program, subject to appropriations by the General Assembly; (2) (A) Contract with a third-party administrator to administer the program established under subdivision (a)(1) of this section. (B) Funds shall be granted to the third-party administrator to create a revolving loan fund for the purpose of financing open-enrollment public charter school facilities projects under this section; and (3) Establish procedures for administering the fund program established under subdivision (a)(1) of this section.

(1) Provide for an open-enrollment public charter school facilities funding program, subject to appropriations by the General Assembly;

(2) (A) Contract with a third-party administrator to administer the program established under subdivision (a)(1) of this section. (B) Funds shall be granted to the third-party administrator to create a revolving loan fund for the purpose of financing open-enrollment public charter school facilities projects under this section; and

(A) Contract with a third-party administrator to administer the program established under subdivision (a)(1) of this section.

(B) Funds shall be granted to the third-party administrator to create a revolving loan fund for the purpose of financing open-enrollment public charter school facilities projects under this section; and

(3) Establish procedures for administering the fund program established under subdivision (a)(1) of this section.

(b) Eligible open-enrollment public charter schools shall be in academic and financial good standing, as determined by the State Board of Education.

(c) The state board may promulgate rules to implement this section.