AZ SB1187

Amends Arizona Revised Statutes section 15-2041 to authorize the school facilities board to require school districts to sell land previously purchased entirely with school facilities board monies if the property is no longer needed within a ten-year period for a new school or school addition.

Prohibits school districts from using land purchased or partially purchased with school facilities board monies for purposes other than school facility sites without obtaining prior written approval from the board.

Prohibits school districts from leasing, selling, or taking actions that would diminish the value of land purchased or partially purchased with school facilities board monies without prior written approval from the board.

Requires proceeds from the sale of any land purchased or partially purchased with school facilities board monies to be returned to the state fund and any other participating entities on a proportional basis.