AL SB267

Creates the Alabama Charter School Finance Authority as a public instrumentality to issue bonds and provide financing loans to state charter educational institutions for project costs on a tax-exempt basis.

Establishes a board of directors composed of the Governor (president), Chair of House Ways and Means Education Committee (vice president), State Superintendent of Education (secretary), Chair of Senate Finance and Taxation Education, and a State Charter School Commission representative.

Authorizes the authority to issue limited obligation bonds payable solely from financing loan repayments, credit enhancements, reserve funds, and investment earnings, with bonds not creating state debt or requiring state appropriations.

Requires state charter educational institutions receiving financing loans to establish dedicated revenue sources and maintain revenues equal to 110-125 percent of maximum annual principal and interest payments on authority bonds.

Provides tax exemption for the authority's property, income, and bond income; establishes Montgomery County as legal situs with exclusive circuit court jurisdiction; becomes effective October 1, 2025.