OklahomaHB 3372Oklahoma 2026 Regular SessionHouse

Charter schools; Revolving Loan Fund Program for Charter School Capital Expenditures; Statewide Charter School Board issuing low-interest loans to charter schools through a revolving fund; Charter School Loan Revolving Fund; appropriation; Charter School Bond Credit Enhancement Program; allowing charter schools to issue bonds; Charter School Bond Credit Enhancement Fund; interest allocation; default; special obligations; effective date.

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

Bond support and fees for charters

Starting November 1, 2026, charter schools can use a new bond credit program for facilities. Approved schools must keep a restricted reserve equal to 12 months of principal and interest and authorize a nonrevocable State Aid intercept for payments. They pay a one‑time fee of 0.5% of the bond’s par amount and an annual fee of 0.075% of the outstanding balance. If a shortfall occurs, the state transfers one month’s payment into the school’s reserve within 15 days, and the school must repay the Fund over time without causing a default. Total bonds in the program cannot exceed $250 million. The program’s Fund keeps its investment earnings to support these obligations instead of sending them to General Revenue.

New facility loans for charter schools

The law creates a Revolving Loan Fund for charter school buildings. Starting November 1, 2026, eligible nonprofit charter operators can apply. Loans can pay for land, construction, renovation, maintenance, and other capital projects. Schools must provide full‑time, in‑person programs and be in good standing. Schools are ineligible if, in the past three years, they earned an F grade, had severe audit findings, or received accreditation warnings or probation. A third‑party sets loan rates and terms, and funding depends on state appropriations.

Sponsors & Cosponsors

Sponsor

Rob Hall
Republican • House

Cosponsors

Adam Pugh
Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 126 • No: 53

Senate vote • 4/23/2026

THIRD READING

Yes: 39 • No: 6

Senate vote • 4/7/2026

Committee vote: Education

Yes: 6 • No: 4

House vote • 3/12/2026

THIRD READING

Yes: 53 • No: 36

House vote • 3/4/2026

DO PASS

Yes: 22 • No: 3

House vote • 2/9/2026