The concept behind SB 152 is pretty simple: allow public charter schools to save taxpayers money by lending them the state's bond rating when they purchase their facility. By reducing the interest rates that schools pay on borrowed money, schools would save millions of dollars over the life of the loan, putting those dollars into classrooms and students, instead of landlords.
The bill passed the Senate today 26-2.
**UPDATE**
Unfortunately, Kim Frank of the Utah Charter Network has been speaking against his bill. Why would someone whose stated goal is to "strengthen the statewide charter movement" lobby against the bill (to the sponsor, the State Charter School Board, and to other legislators) that would literally save schools millions of dollars in interest payments and property tax?
**FURTHER UPDATE**
Kim Frank sent a newsletter out some days after this post stating that her network's position had solidified, her "concerns" had been addressed, and she was satisfied that there would be no negative "unintended consequences." She now "fully supports" the bill. That's the right position. I'm glad she got her concerns addressed. While I wish she would have found answers to these questions before speaking publicly against the bill's specifics, I'm glad that the charter movement is unified on this important step forward.
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