California AB2316 modifies the Charter School Facilities Program to reduce financial burden on charter schools.

California AB2316 amends the Charter School Facilities Program to allow for a reduction in the 50 percent local share matching obligation or lease payments if it would cause an undue financial burden on the charter school. The bill outlines criteria for determining undue financial burden, including the total amount of state and federal grants received, local general obligation bond funds, and transfers of funds or assets. It also sets a minimum interest rate of 2 percent for loans and allows for the charging of administrative costs.

California AB2316 modifies the Charter School Facilities Program to reduce financial burden on charter schools.

California AB2316 amends the Charter School Facilities Program to allow for a reduction in the 50 percent local share matching obligation or lease payments if it would cause an undue financial burden on the charter school. The bill outlines criteria for determining undue financial burden, including the total amount of state and federal grants received, local general obligation bond funds, and transfers of funds or assets. It also sets a minimum interest rate of 2 percent for loans and allows for the charging of administrative costs.