The bill amends existing laws regarding school district transportation vehicle funds, specifically RCW 28A.320.340 and RCW 28A.160.130. It allows school districts under binding conditions or enhanced financial oversight to take temporary interfund loans from their capital projects or transportation vehicle funds, with specific conditions for repayment and reporting. The bill also requires that any loan transaction be approved by the school district's board of directors and, if applicable, by a special administrator overseeing the district's financial conditions.

Additionally, the bill establishes a transportation vehicle fund for each school district, detailing the sources of funding and permissible uses of the fund, which include purchasing and repairing pupil transportation vehicles and transitioning to electric or zero-emission vehicles. It introduces provisions for school districts in financial distress to petition for the transfer of funds from their transportation vehicle fund to another fund, including the option to convert temporary loans into permanent transfers without repayment requirements, provided that such transfers do not harm the fund's intended purposes. The superintendent of public instruction is tasked with adopting rules to govern these processes.

Statutes affected:
Original bill: 28A.320.340, 28A.160.130