§16-77.1-4  State funds for charter public schools start up costs. –


Published: 2015

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TITLE 16

Education

CHAPTER 16-77.1

Funding of Charter Public Schools [See Title 16 Chapter 97 – The

Rhode Island Board of Education Act]

SECTION 16-77.1-4



   § 16-77.1-4  State funds for charter public

schools start up costs. –

In the event that federal funds are either unavailable or are fully expended,

there shall be established a system of interest free loans for start up costs

for charter public schools to be provided from an appropriation of state funds

designated by the legislature for this purpose. The loans shall not exceed one

hundred and fifty thousand dollars ($150,000) for a single charter public

school and this loan of state funds shall be repaid in equal monthly

installments over no more than five (5) years. The state funds shall be

distributed to charter public schools by the department of elementary and

secondary education through a process which requires each charter public school

seeking the funds to submit a loan application to the department of elementary

and secondary education.



History of Section.

(P.L. 1999, ch. 366, § 2.)

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