This bill proposes the termination of the Board of Educational Lands and Funds, effective July 1, 2027. It amends section 72-201 of the Revised Statutes Cumulative Supplement, 2024, to transfer the management of school lands to the Department of Administrative Services upon the board's termination. The department will be responsible for selling the school lands as leases expire, granting the most recent lessee the right of first refusal to purchase the land. If the lessee declines, the land will be sold at public auction, with proceeds directed to the State Treasurer for the permanent school fund. Additionally, any remaining funds in the temporary school fund as of the termination date will be distributed to the state's school districts.

The bill also includes a repeal of the original section 72-201, which outlines the structure and responsibilities of the Board of Educational Lands and Funds. The new provisions aim to streamline the management of school lands and ensure that the proceeds from their sale benefit the state's educational funding.

Statutes affected:
Introduced: 72-201