Existing law establishes the Charter School Revolving Loan Fund, under the administration of the California School Finance Authority, and authorizes loans to be made from the fund to (1) a chartering authority for charter schools that are not a conversion of an existing school or (2) directly to a charter school that qualifies to receive specified funding and is not a conversion of an existing school. Under existing law, moneys appropriated to the fund remain available for purposes of the fund until reappropriated or reverted by the Legislature. Existing law limits the amount loaned to a qualifying charter school from the fund to $250,000 over the lifetime of the charter school and authorizes a qualifying charter school to receive money obtained from multiple loans made directly to the charter school or to the school's chartering authority from the fund, as long as the total amount received from the fund over the lifetime of the charter school does not exceed $250,000. Existing law requires the Controller, commencing with the first fiscal year following the fiscal year the charter school receives the loan, to deduct from apportionments made to the chartering authority or charter school, as appropriate, an amount equal to the annual repayment of the amount loaned to the chartering authority or charter school for the charter school and to pay the same amount into the fund, as provided. Existing law requires moneys in the fund to be loaned at the interest rate earned by the moneys in the Pooled Money Investment Account as of the date of disbursement of the funds to the charter school.
California SB 631 (20252026) — Charter School Revolving Loan Fund.
Existing law establishes the Charter School Revolving Loan Fund, under the administration of the California School Finance Authority, and authorizes loans to be made from the fund to (1) a chartering authority for charter schools that are not a conversion of an existing school or (2) directly to a charter school that qualifies to receive specified funding and is not a conversion of an existing school. Under existing law, moneys appropriated to the fund remain available for purposes of the fund until reappropriated or reverted by the Legislature. Existing law limits the amount loaned to a qualifying charter school from the fund to $250,000 over the lifetime of the charter school and authorizes a qualifying charter school to receive money obtained from multiple loans made directly to the charter school or to the school's chartering authority from the fund, as long as the total amount received from the fund over the lifetime of the charter school does not exceed $250,000. Existing law requires the Controller, commencing with the first fiscal year following the fiscal year the charter school receives the loan, to deduct from apportionments made to the chartering authority or charter school, as appropriate, an amount equal to the annual repayment of the amount loaned to the chartering authority or charter school for the charter school and to pay the same amount into the fund, as provided. Existing law requires moneys in the fund to be loaned at the interest rate earned by the moneys in the Pooled Money Investment Account as of the date of disbursement of the funds to the charter school.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
SB 631 Richardson Senate Third Reading By Patel — 78–0 (pass) · lower
Unfinished Business SB631 Richardson Concurrence — 40–0 (pass) · upper
3rd Reading — 38–0 (pass) · upper
Do pass — 5–1 (pass) · upper
Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent Calendar — 7–0 (pass) · upper
Do pass as amended and be re-referred to the Committee on [Appropriations] — 9–0 (pass) · lower
Placed on suspense file — 7–0 (pass) · upper
Sponsors
Richardson — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
2025-02-20 Introduced. Read first time. To Com. on RLS. for assignment. To print. introduction, reading-1
2025-02-21 From printer. May be acted upon on or after March 23.
2025-03-05 Referred to Com. on ED. referral-committee
2025-04-09 Set for hearing April 30.
2025-04-21 From committee with author's amendments. Read second time and amended. Re-referred to Com. on ED. amendment-passage, committee-passage, reading-1, reading-2, referral-committee
2025-04-30 From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 7. Noes 0. Page 961.) (April 30). Re-referred to Com. on APPR. committee-passage, committee-passage-favorable, referral-committee
2025-05-02 Set for hearing May 12.
2025-05-12 May 12 hearing: Placed on APPR. suspense file.
2025-05-16 Set for hearing May 23.
2025-05-23 From committee: Do pass. (Ayes 5. Noes 1. Page 1207.) (May 23). committee-passage, committee-passage-favorable
2025-05-23 Read second time. Ordered to third reading. reading-1, reading-2
2025-05-28 Read third time. Passed. (Ayes 38. Noes 0. Page 1304.) Ordered to the Assembly. passage, reading-1, reading-3
2025-05-28 In Assembly. Read first time. Held at Desk. reading-1
2025-06-05 Referred to Com. on ED. referral-committee
2025-07-03 From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (July 2). amendment-passage, committee-passage, committee-passage-favorable
2025-07-07 Read second time and amended. Re-referred to Com. on APPR. amendment-passage, reading-1, reading-2, referral-committee
2025-07-16 July 16 set for first hearing. Placed on APPR. suspense file.
2025-08-29 From committee: Do pass. (Ayes 15. Noes 0.) (August 29). committee-passage, committee-passage-favorable
2025-09-02 Read second time. Ordered to third reading. reading-1, reading-2
2025-09-05 Assembly Rule 69(b)(1) suspended.
2025-09-05 Read third time and amended. amendment-passage, reading-1, reading-3
2025-09-05 Ordered to third reading.
2025-09-09 Read third time. Passed. (Ayes 78. Noes 0. Page 3077.) Ordered to the Senate. passage, reading-1, reading-3
2025-09-09 In Senate. Concurrence in Assembly amendments pending.
2025-09-10 Assembly amendments concurred in. (Ayes 40. Noes 0. Page 2822.) Ordered to engrossing and enrolling. amendment-passage, committee-passage-favorable
2025-09-22 Enrolled and presented to the Governor at 11 a.m.
2025-10-13 Approved by the Governor. executive-signature
2025-10-13 Chaptered by Secretary of State. Chapter 776, Statutes of 2025. became-law
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/3ab2af19-9156-47ab-b474-392e41d5d31b. Confidence: reported (aggregated from official California legislature records).
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