WA HB2551

School districts with ending fund balances at 3% or less of total revenues may request authorization from the Superintendent of Public Instruction to sell real property to restore financial stability and prevent adverse impacts to student learning.

Proceeds from authorized sales must be used only to alleviate the financial burdens causing the district's solvency issues.

School districts are prohibited from receiving this type of sale authorization more than once during a five-year period.

The Office of Superintendent of Public Instruction must adopt rules ensuring transparency, accountability, and verification that sale proceeds align with authorization terms.

Amends existing law to add this new authorization pathway as an exception to standard requirements that property sale proceeds go to debt service or capital projects funds.