This bill establishes a prohibition for certain school districts under State intervention from entering into leases for buildings if the total lease costs would exceed the purchase price of the building. Specifically, it applies to districts that have not successfully regained local control over the governance component of school district effectiveness. In such cases, the district or the State acting on its behalf is restricted from leasing a building as a lessee.

The intent of the bill is to ensure that school districts under State intervention make financially sound decisions regarding their facilities, prioritizing the purchase of buildings over potentially more costly leasing arrangements. The bill is set to take effect immediately upon enactment.