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 funding requests for projects lacking local match funding and requires SFOB employees to disclose any interests in contracts or transactions related to the board or division. The SFOB will also be tasked with determining whether disclosed interests are substantial and maintaining a record of such interests. Furthermore, the bill repeals section 41-3025.07 and clarifies that the SFOB may direct the Division to temporarily transfer funds between the Emergency Deficiencies Correction Fund and the New School Facilities Fund. It also includes technical and conforming changes to ensure consistency with the updated provisions. Overall, these changes aim to enhance oversight and accountability within the SFOB while ensuring its continued operation for the next five years.

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