The short answer is that the Educational Freedom Act makes no changes to the laws or regulations governing charter schools. The longer answer is that introducing competition into education will lead to dynamic changes, all for the better. The charter schools will undoubtedly recognize the opportunities (i.e. larger customer base to offer their products).
Note that charter schools are essentially public schools and are not eligible for the Education Freedom Act funding. We expect most charter schools will become private schools because they would likely have access to more funding than they currently enjoy.