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WA SB5412
Bill
Status
Passed
5/20/2025
Primary Sponsor
June Robinson
Click for details
AI Summary
- School districts under binding conditions or enhanced financial oversight may take temporary interfund loans from their capital projects fund, with loans to be repaid within one calendar year without interest
- The district's board of directors must adopt a resolution specifying the exact loan amount, funds involved, repayment source, and schedule; districts under enhanced oversight also need approval from an appointed special administrator
- School districts in binding conditions may request authorization from the superintendent of public instruction to sell real property, with proceeds restricted to addressing financial burdens or funding temporary interfund loans
- Districts may only receive authorization to sell real property under these provisions once every 10 years, and sales must be necessary to restore financial stability and prevent adverse impacts to student learning
- The bill expands enhanced financial oversight powers to include directing the sale of school district real property and specifying which fund receives the proceeds
Legislative Description
Providing temporary interfund loans for school districts.
Last Action
Effective date 7/27/2025.
5/20/2025
Committee Referrals
Rules4/2/2025
Education3/13/2025
Rules2/13/2025
Early Learning & K-12 Education1/22/2025
Full Bill Text
No bill text available