(1) The Commission for Arkansas Public School Academic Facilities and Transportation shall promulgate rules necessary to administer the Open-Enrollment Public Charter School Facilities Loan Fund, which shall include without limitation a provision for the prioritization of loan applications.
(2) This section is not intended to subject a loan applicant to rules similar to those applicable to school districts under the Arkansas Public School Academic Facilities Funding Act, § 6-20-2501 et seq., and the Arkansas Public School Academic Facilities Program Act, § 6-21-801 et seq.