AZ HB2465

Amends section 15-342, Arizona Revised Statutes, to add paragraph 40 regarding school district governing board discretionary powers.

Allows school district governing boards to lease school buildings or grounds as lessor for periods of less than 99 years to nonprofit entities that have received or will receive public assistance for providing housing.

Requires the nonprofit lessee to have received or will receive tax credits or other government incentives to provide housing serving high-need or underserved workforce sectors.

Mandates that the lease agreement include a requirement for the lessee to offer a minimum number of rental units to school district employees at below-market rental rates, with terms determined by mutual agreement between the school district and lessee.