The "Equitable Access to School Facilities Act" seeks to enhance the quality and affordability of charter school facilities by modifying existing federal education programs. It establishes a competitive State Facilities Aid Program under the Elementary and Secondary Education Act, offering grants to state entities for up to five years to support charter school facility needs. These grants aim to help states create or expand policies that improve facility acquisition, leasing, renovation, and ongoing operational costs for charter schools. Priority for these grants will be given to states that provide charter schools with access to tax-exempt financing , ensure similar land use treatment as other public schools, or prohibit deed restrictions limiting charter school access to properties. Funds can be used to increase financing mechanisms, support alternative ownership models, and address ongoing facilities costs. The federal share for these activities is capped at 60%, and states can receive multiple grants if they demonstrate increasing support for charter school facilities. The bill also expands the allowable uses of existing grants designed to support high-quality charter schools. States can now use these funds to provide assistance in locating and accessing facilities for new or expanding charter schools and offer one-time aid to ensure facilities comply with state and local building codes. A significant change allows states to reserve up to 10% of these grant funds to establish a revolving loan fund , which can be used for initial charter school operations or for obtaining, renovating, or rehabilitating facilities. Furthermore, the legislation clarifies that funds provided under this part do not create a federal interest for specific recording or reporting requirements. It also mandates that entities receiving credit enhancement grants for charter school facilities must submit annual reports for 10 years following the grant award, ensuring long-term accountability and oversight.