The bill amends Florida statutes concerning charter school funding, specifically sections 1002.33 and 1013.62, by introducing provisions that ensure timely payments to charter schools from local funding sources and prohibits district school boards from delaying these payments. It also exempts certain charter school facilities from assessments and fees, guarantees that funds generated by conversion schools remain with those schools, and allows specific landlords and entities to serve on charter school governing boards under certain conditions. Additionally, the bill revises eligibility requirements for capital outlay funding and updates the methodology for calculating capital outlay allocations.

Furthermore, the bill allows charter schools to use capital outlay funds for the renovation, repair, and maintenance of facilities they own or occupy under long-term leases, provided these agreements are at appraised value. It also includes a provision for the Auditor General to verify compliance with these requirements during operational audits of school districts. Key language changes include the clarification of conditions under which charter schools can utilize capital outlay funds, specifically by replacing "or" with "occupies under a" and adding "or has agreed to maintain under a mutual management plan with the charter school's sponsor." The act is set to take effect on July 1, 2026.