As an additional incentive to use the funds for charter schools and unfunded mandates, states would not have to provide matching funds or in-kind contributions for those two purposes. Facilities modifications for disabled students, including the purchase and installation of special equipment. Wiring for the internet to enhance students academic experiences and help expand digital opportunities. Equipment needs to meet new science and vocational education initiatives. Asbestos abatement or removal.
Major facilities upgrades to comply with fire and safety codes.
State Loan Guarantee Program Establishes the minimum requirements of a loan guarantee program operated with funds provided under the act. Require states to charge an insurance fee for all loans guaranteed under the program, which would be paid to the state s reserve fund. Require that the reserve fund be used to make payments to banks in cases of borrower default. Clarify that any interest earned by the reserve fund must remain in the reserve fund. By allowing states flexibility in funding charter school construction, states may continue other innovative funding methods, such as the multi-state charter school consortia bonding authority developed in Colorado, or a state guaranteed loan program.