ID S1180

Creates the Public Charter School Facilities Program administered by the Idaho Housing and Finance Association to help qualifying charter schools obtain favorable bond financing for facility improvements and construction.

Requires participating schools to meet specific eligibility criteria including three years of academic and financial good standing, operating reserves exceeding 60 days of cash, debt service coverage ratio of at least 1.2, and unqualified audit opinions without significant findings.

Establishes a restricted debt service reserve account requiring participating schools to deposit a minimum of twelve months' principal and interest payments, with funds available only for bond payments or redemption under specified conditions.

Requires participating schools to direct all state educational support program payments directly to the bond trustee and mandates schools pay a one-time issuance fee of 0.5% of par value plus an annual fee of 0.075% on outstanding balance.

Limits total par amount outstanding under the program to not exceed the percentage of Idaho public school students attending charter schools multiplied by the par amount of bonds guaranteed under the Idaho School Bond Guaranty Act.