Amends existing law to revise provisions regarding the public charter school facilities program.

Charter schools are public schools funded by taxpayers. To help established charter schools secure lower interest rates on bonds, the state created the charter school credit enhancement. Twenty-one charter schools have used the tool, resulting in annual interest savings of $11.8m, or a projected $112m over a fifteen-year period. However, this tool has hit its statutory cap. This bill would raise the cap on the overall capacity of the tool so more qualifying schools may apply to participate.