This bill establishes a prohibition for certain school districts under State intervention regarding leasing buildings. Specifically, it states that if a school district has not successfully regained local control over its governance component of school district effectiveness, it, or the State acting on its behalf, cannot enter into a lease agreement for a building if the total lease costs over the term of the lease would exceed the building's purchase price.

The intent of this legislation is to ensure that financially struggling school districts do not incur greater expenses through leasing arrangements when purchasing the property would be more cost-effective. The bill is set to take effect immediately upon enactment.