This bill modifies the regulations surrounding lease agreements for K-12 school facilities in Wyoming. It amends the duties of school district boards of trustees to ensure that lease agreements require sufficient payments from lessees to cover maintenance expenses in accordance with statewide adequacy standards. Additionally, if a district or charter school is the lessee, the lease must stipulate that the lessor is responsible for maintaining the facilities to the same standards. The bill also mandates that lease agreements clearly identify the funds allocated for major maintenance, which cannot be used for any other purpose without district or charter school approval.

Furthermore, the bill changes the reimbursement structure for lease payments made by the state. It specifies that any payment made by the department for a leased facility will now be equal to the lesser of the total lease agreement amount or the average cost per square foot for comparable facilities, multiplied by the allowable square footage necessary for the educational program. This adjustment aims to ensure that lease payments are more closely aligned with actual costs while maintaining accountability for maintenance expenditures. The act is set to take effect on July 1, 2025.

Statutes affected:
25LSO-0221 v1.0: 21-3-110