School facilities: charter schools.

Existing law assigns to the California School Finance Authority a specified amount of the state's 2010 federal tax credit bond volume cap for qualified school construction bonds, to be issued for the benefit of charter schools, or to be further assigned and distributed to one or more issuers in the state for the benefit of charter schools, as the California School Finance Authority determines. Existing law authorizes a charter school to apply for the federal qualified school construction bond volume cap if specified criteria are met. This bill would require a charter school, if it applies for the federal qualified school construction bond volume cap, or any other federal bond borrowing authority, to notify, in writing and at least 30 days before submitting the application, the district superintendent of schools and the governing board of the school district in which the charter school is physically located of its intent to rehabilitate, encumber, or otherwise alter school district property.