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AB 435

Revises provisions governing the funding of schools. (BDR 34-1087)

2025 Regular Session Introduced by Gregory Koenig

Creates the State Public Charter School Facility Fund to finance charter facilities with state bonds; counties may levy a tax to cover debt for SPCSA-sponsored charters.

(Pursuant to Joint Standing Rule No. 14.3.1, no further action allowed.)
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Bill Summary · AB 435

AB 435 — State Public Charter School Facility Fund (BDR 34‑1087) — Summary

Status & timeline
- Introduced: Feb 6, 2025 (Asm. Koenig). Referred to Revenue, Transportation, Appropriations during legislative process.
- Passed both houses (Assembly and Senate), enrolled Sept 15, 2025, presented to Governor Sept 15, 2025, approved by Governor Oct 7, 2025. Chaptered: Chapter 434, Statutes of 2025.
- Fiscal note (as introduced): Effect on Local Government: No. Effect on the State: Yes.

Purpose / intent
- Create a dedicated State Public Charter School Facility Fund to provide a financing mechanism for charter school facilities and to authorize state‑level bond financing secured by that Fund. The bill is intended to expand and centralize options for charter school facility financing while providing statutory controls over bond issuance and proceeds.

Key provisions
1. Creation and administration of the Fund
- Establishes the State Public Charter School Facility Fund in the State Treasury, administered by the Executive Director of the State Public Charter School Authority (SPCSA).
- Fund may receive gifts/grants; money in the Fund is invested like other state funds and interest credited to the Fund; balances carry forward (do not revert to General Fund).

  1. State bond financing authority

    • Authorizes the Executive Director to request the State Board of Finance issue bonds secured by the Fund’s money and revenue.
    • Proceeds may finance: construction, design, purchase, enlargement, remodel, repair, acquisition of sites, or rental/lease of buildings/grounds for charter schools. Explicit examples include teacherages, dormitories, dining halls, gymnasiums, stadiums, playgrounds, athletic fields.
    • Bonds are subject to the State Securities Law (chapter 349 NRS). The State Board of Finance must find sufficient revenue will be available in the Fund to meet debt service before issuing bonds.

  2. Eligibility and assistance

    • Charter schools sponsored by the State Public Charter School Authority may apply to the Authority for financial assistance from bond proceeds. (Amendment expanded language to include charter schools sponsored by the Authority or a local government to apply.)

  3. County tax mechanism to support the Fund

    • Amends NRS 387.195 to permit (in addition to existing levies) a county board of commissioners to levy a tax—similar in form to existing tax levies for county school district bonds—for payment of interest and redemption of bonds issued under this Act for charter schools in the county.
    • Proceeds and interest from that tax, if levied, must be remitted by the county treasurer to the State Treasurer for credit to the State Public Charter School Facility Fund.

Who is affected / potential impacts
- Direct: SPCSA (Administrator), State Board of Finance, charter schools sponsored by SPCSA (and, per amendment, some locally sponsored charter schools) that may receive facility financing, county governments that choose to levy the optional tax.
- Indirect: taxpayers in counties that opt into the tax; traditional public school districts (competition for facilities and students); organizations involved in charter school facility development and management.
- Policy impacts: provides a state‑level financing vehicle to support charter facilities, which could accelerate charter school construction or expansion; raises questions among education stakeholders about resource allocation and oversight of facility funding. The Nevada State Education Association submitted opposition testimony citing concerns about for‑profit EMOs and diversion of public funds.

Administrative / procedural notes
- Bonds issuance must comply with State Securities Law and a Board of Finance finding of sufficient revenue. The SPCSA may adopt regulations to implement the Fund.
- The bill was subject to multiple committee referrals and amendments prior to final enactment.

Contact / references
- Statutory changes: Adds a new section to chapter 387 NRS (creates Fund); amends NRS 387.195 (county tax provisions).
- Chaptered as Chapter 434, Statutes of 2025.

Compiled from official sources — confirm details with the bill’s official record.

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