This bill amends the duties of school district boards of trustees regarding lease agreements for K-12 school facilities. It requires that when a district enters into a lease for buildings and facilities included in the statewide database, the lease must ensure sufficient payment from the lessee to cover maintenance expenses in line with statewide adequacy standards. Additionally, if a district or charter school is the lessee, the lease must obligate the lessor to maintain the facilities according to prescribed standards. The bill mandates that the lease agreement must clearly specify the funds allocated for major maintenance, which cannot be used for any other purpose without district approval.

Furthermore, the bill modifies the reimbursement process for lease payments made by the district or charter school. It changes the payment cap from "not exceed" to "be equal to the lesser of the amount of the total lease agreement 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