The proposed bill would update current statutes governing lease agreements for school districts by establishing stricter regulations on lease lengths and introducing new reporting requirements. Under current law, governing boards can lease school buildings or grounds for less than 20 years without voter approval, while leases of 20 to 99 years require such approval. The bill would cap the maximum length of a lease or lease-purchase agreement by a governing board for school buildings or grounds, as lessor or lessee, at less than 20 years and limit the maximum lease length to less than 20 years, require voter approval for leases of at least 10 years, and mandate that school buildings or grounds be located within the school district's boundaries. Additionally, the bill would require each school district to report annually to the Division of School Facilities (SFD) on various aspects of their real estate holdings, including location, current use, and lease agreements. The SFD would compile these reports into a single document for submission by December 1 each year. These updates aim to enhance transparency and accountability in school district lease agreements and property management, ensuring that decisions align with community input through necessary voter approval.

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