The proposed bill would update current statutes governing school district property management by modifying the requirements for lease agreements and property purchases. Under the new provisions, governing boards would need voter approval for leases lasting between 10 and 99 years, rather than the current 20 to 99 years. Leases for less than 10 years would not require voter approval, and purchases of school sites outside the district's geographic boundaries would be prohibited. Additionally, if a governing board does not enter a lease within 10 years of receiving voter approval, a special election must be called to reauthorize the lease. The bill also introduces an annual reporting requirement for school districts to detail their real estate holdings, including addresses, descriptions, and current uses, with the Division of School Facilities compiling these reports for state officials. It narrows eligibility for tax exemptions related to educational and library properties, ensuring they apply only if the properties are used for educational purposes and meet specific criteria. Overall, these changes aim to enhance accountability and oversight in school district property management while removing outdated provisions and clarifying definitions related to school property transactions.

Statutes affected:
Introduced Version: 15-342, 15-491, 15-1105, 41-5702.01, 38-621, 38-624, 15-341, 15-213.01, 15-701, 15-701.01, 11-952, 15-213, 15-789, 15-841, 15-949, 41-5701.02, 15-481, 41-1750, 15-1143, 15-1142, 15-746, 41-5711, 41-5741, 9-500.05, 11-1101, 15-154, 15-901, 15-158, 15-493, 15-401, 15-402, 16-204, 15-511, 15-1102, 41-5704
House Engrossed Version: 15-342, 15-491, 15-1102, 15-1105, 41-5702.01, 42-11104, 42-11133, 38-621, 38-624, 15-341, 15-213.01, 15-701, 15-701.01, 11-952, 15-213, 15-789, 15-841, 15-949, 41-5701.02, 15-481, 41-1750, 15-1143, 15-1142, 15-746, 41-5711, 41-5741, 9-500.05, 11-1101, 15-154, 15-901, 15-158, 15-493, 15-401, 15-402, 16-204, 15-947, 15-903, 15-511, 41-5704, 15-1444, 15-183, 42-11152