Charter School Funding Amendments

HB 218 modifies Utah's Charter School Credit Enhancement Program to tighten qualification rules for charter schools seeking low-cost financing. It requires schools to meet stricter financial metrics (like debt service coverage ratios), expands evaluation of operating history and academic performance, and adds annual certification requirements. The bill establishes a clear repayment process for state funds used to cover debt service reserve shortfalls, mandating schools repay the state within five years. It appropriates $4 million for fiscal year 2026 to support these changes, directly affecting charter schools participating in the program.