ID S1450

Establishes "Four Three Education" as an independent public body corporate and politic by converting the existing nonprofit corporation Four Three Education, Inc., with board of regents as sole member.

Creates an 11-member board of trustees consisting of 5 affiliated trustees (one house member, one senate member, board of regents president or designee, University of Idaho president, and Four Three Education president) and 6 independent trustees appointed by the board of regents.

Authorizes Four Three Education to acquire, own, and operate the University of Phoenix, including powers to adopt bylaws, sue and be sued, borrow money up to $50 million in aggregate outstanding principal for bond debt service, and hold real and personal property.

Establishes the Four Three Education Fund in state treasury to receive licensing fees, surplus contributions after obligations are met, and sale proceeds for Idaho-specific postsecondary education initiatives.

Requires Four Three Education to submit annual written reports to the governor and legislature by January 31 and report to joint finance-appropriations committee and education committees; entity remains financially self-supporting with no state tax power.