(a) There is established within the District of Columbia, under the authority of the Mayor, an Office of Public Charter School Financing and Support.
(b) The Office shall have the following three functions:
(1) To administer the credit enhancement fund for public charter schools under section 603(e) of the Student Loan Marketing Association Reorganization Act of 1996 (20 U.S.C. 1155(e)), subject to the provisions of such section.
(2) To administer the Direct Loan Fund for Charter School Improvement under § 38-1833.02, subject to the provisions of such section.
(3) To develop, implement and provide oversight for other public charter school financing programs and support services as requested by the Mayor and the Council of the District of Columbia.
(c) The functions described in subsection (b) of this section may be provided by the Office directly or under contract with a qualified provider.
(Feb. 20, 2003, 117 Stat. 130, Pub. L. 108-7, § 143(a); Oct. 18, 2004, 118 Stat. 1348, Pub. L. 108-335, § 340(b).)
Pub. L. 108-335, in subsec. (a), substituted “under the authority of the Mayor” for “under the authority of the Department of Banking and Financial Institutions”.
Structure District of Columbia Code