Creation of a revolving loan fund to support students with disabilities.

A Local Law to amend the administrative code of the city of New York, in relation to the creation of a revolving loan fund to support students with disabilities

This bill would require the Department of Education (DOE) to establish a revolving loan fund to provide loans to eligible private schools supporting students with disabilities that are awaiting the issuance of a payment pursuant to a written settlement agreement or an order issued pursuant to an impartial due process hearing. The loans would be for a term of two-years and no interest would be charged so long as the loans are repaid in a timely manner.