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|President's 2006 Budget|
CHARTER SCHOOL PROGRAMS LEVEL-FUNDED
The President's FY2006 Budget includes $68.8 billion for education programs, roughly $3 billion below last year's funding. This represents the first proposed decrease in education funding under the Bush Administration, which up to this point has increased funding in this area by 33%.
Of the roughly 85 separate K-12 education programs, over 50 had their funding reduced or eliminated. However, the Charter Schools Grant Program saw a slight increase over last year's funding level, while funding for the Credit Enhancement for Charter Schools Facilities program was maintained.
A new potential source of charter funding is the proposed Choice Incentive Fund. But look for heavy political sledding on this one.
Charter School Grants
Under the Title V, Part B of the Elementary and Secondary Education Act (ESEA), funds in excess of $200 million, but not exceeding $300 million, are to be used for State Charter School Facilities Incentive Grants. Therefore, $18.7 million will be available to maintain support for these grants, which provide matching funds to States that offer per-pupil financial assistance to charter schools to obtain facilities. (The bad news is that this will just about pay for continuation grants to existing state grantees; an infusion of new money will be needed to fund new incentive grants.)
Credit Enhancement for Charter School Facilities
Choice Incentive Fund
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