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 would repeal the existing statute that governs the SFOB's termination under A.R.S. § 41-3025.07 and introduce new provisions that specify the conditions under which the SFOB would be repealed on January 1, 2028. Specifically, the SFOB would be dissolved if it has no outstanding state school facilities revenue bonds, state school improvement revenue bonds, or lease-to-own transactions, or if the Legislature has made provisions for their retirement.

Additionally, the bill includes a purpose statement affirming the SFOB's role in evaluating the capital needs of school districts and distributing funds for addressing deficiencies and constructing new facilities. The effective date of these changes would be retroactive to July 1, 2025, ensuring continuity in the oversight of school facilities.

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