The bill amends Florida Statutes to revise the application process for conversion charter schools, allowing municipalities to apply for a new type of charter school called a "job engine charter." This new charter aims to attract job-producing entities to municipalities that have received a grade below an "A" from the Department of Education for five consecutive years. The bill outlines specific requirements for job engine charter schools, including the necessity for municipalities to provide annual reports on investments made to attract jobs, ensure security technology in facilities, and manage debts incurred by the charter school. Additionally, it prohibits students transferring to these schools from participating in high school athletic competitions during their first year.

Furthermore, the bill introduces new requirements for school boards regarding the acquisition of real property. Before occupying any purchased or acquired property, school boards must submit a five-year plan to the Department of Education, which must be updated annually. The bill prohibits school boards from acquiring real property if there has been a decline in enrollment over the past five years and mandates the disposal of surplus property as determined by the State Board of Education. Surplus properties are prioritized for conversion into affordable housing for teachers and first responders, charter school facilities, or recreational facilities developed by local governments. The bill is set to take effect on July 1, 2025.