The Alabama Charter School Finance Authority Act establishes the Alabama Charter School Finance Authority, which is tasked with issuing bonds to provide financing loans to state charter educational institutions for project costs. The Act requires that any institution receiving a loan must maintain a dedicated revenue source for repayment, thereby facilitating tax-exempt financing for charter schools to support the construction and improvement of educational facilities. The bill outlines the governance structure of the authority, detailing the roles of its members, and grants it various powers, including the ability to adopt an official seal, sue and be sued, and maintain an office.

Key provisions of the bill include the authority's ability to issue bonds for refinancing existing debts, establish accounts, and enter into contracts for servicing loans. It also allows the authority to determine interest rates on bonds and use proceeds for various financial activities, while ensuring that the bonds issued do not create a debt for the state. The bill includes a severability clause and repeals conflicting laws, with an effective date set for October 1, 2026. Notably, the text does not specify any deletions from current law, focusing instead on the establishment and operational framework of the new authority.