AZ HB2524

The School Facilities Board must take ownership of any school facility operated by a school district when current enrollment falls below 25 percent of the facility's capacity.

When taking ownership, the School Facilities Board must reimburse the school district an amount equal to the greater of: 10 percent of the assessed value of the facility or 10 percent of the value of the land.

The School Facilities Board may transfer ownership of an acquired facility to an adjacent school district if that district has an A, B, or C letter grade, experienced enrollment growth in at least 3 of the previous 5 fiscal years, and its governing board votes to accept the facility.

Any transfer of a school facility must be accompanied by a revision of school district boundaries to include the transferred facility within the receiving district's boundaries.

The School Facilities Board must facilitate any fiduciary agreements between the two school districts involved in a facility transfer.