Establishing Charter School Direct Loan Program and Charter School Credit Enhancement Program

SB 1017 establishes two financing programs under the West Virginia Economic Development Authority to support public charter schools. The Charter School Direct Loan Program provides loans for charter school startup, operations, facility acquisition, or improvements, while the Charter School Credit Enhancement Program helps schools secure better loan terms by reducing lender risk. Qualifying charter schools - those meeting authority-set standards and designated by the Economic Development Authority - can access these programs, with priority given to rural school development. The bill creates specific mechanisms for loan administration, debt service reserves, and project definitions (including facilities and capital equipment) without altering existing charter school governance.