Adds to existing law to convert the corporate entity Four Three Education into an independent public body corporate and politic and to invest such entity with the power to acquire and manage the University of Phoenix.

This bill creates the 43 Education Act to reform the entity and address concerns identified by the legislature. The bill does five main things: • 43 Education will become an independent body politic and corporate. • The board of trustees provides legislative oversight by including two legislators, appointed by the Speaker of the House and Senate President Pro Tempore. • The state is insulated from liability, and bondholders must be told up front that the state won’t offer its backing or credit. • 43 Education must be self-sustaining and is prohibited from asking JFAC for funds. • 43 Education must report annually to the legislature in writing and give presentations to JFAC and Senate and House Education Committees.