This bill proposes several updates to the current statutes governing the School Facilities Oversight Board (SFOB). It will continue the SFOB until July 1, 2030, with provisions for its repeal on January 1, 2031, unless certain conditions regarding outstanding revenue bonds are met. Additionally, the bill removes the authorization for the SFOB Director to expedite requests for funds when a local match has not been obtained and requires SFOB employees to disclose any interests in contracts or transactions annually. The SFOB will also be tasked with determining whether disclosed interests are substantial and maintaining a record of such interests while clarifying its authority to transfer funds between specific accounts. Furthermore, the bill repeals section 41-3025.07 of the Arizona Revised Statutes and makes various technical and conforming changes to ensure clarity and compliance with the new provisions. The updates aim to enhance transparency and accountability within the SFOB while ensuring that it can effectively manage school facilities funding and oversight. The changes are set to take effect retroactively to July 1, 2025, ensuring continuity in the board's operations.

Statutes affected:
Introduced Version: 41-3025.07, 41-3027.09
Senate Engrossed Version: 41-3025.07, 41-3030.17, 41-5702, 41-5703, 41-5704, 41-5705