The proposed bill would update current statutes by continuing the School Facilities Oversight Board (SFOB) for an additional two years, extending its termination date to July 1, 2027. It also includes provisions for the potential repeal of the SFOB and related statutes on January 1, 2028, contingent upon the absence of outstanding state school facilities revenue bonds and lease-to-own transactions, or if the Legislature has made provisions for their retirement. If neither condition is met by the specified date, the repeal would occur 30 days after all relevant bonds and transactions are settled.

Additionally, the bill clarifies the Legislature's intent for the SFOB to provide a single estimate of projected enrollment and associated costs for funding purposes. It also retroactively applies certain provisions to July 1, 2025, ensuring continuity in the oversight and distribution of funds for school facilities. The bill repeals section 41-3025.07 and amends title 41, chapter 27, article 2 by adding section 41-3027.09, which relates to the SFOB's responsibilities and operations.

Statutes affected:
Introduced Version: 41-3025.07, 41-3027.09
House Engrossed Version: 41-3025.07, 41-3027.09