WA SB6065

School districts under binding conditions or enhanced financial oversight may take temporary interfund loans from their transportation vehicle fund (in addition to existing capital projects fund option), with full repayment required within one calendar year and no interest charged

Districts under financial oversight may petition the Superintendent of Public Instruction to permanently transfer money from their transportation vehicle fund to another school fund, including converting temporary interfund loans to permanent transfers with no repayment required

Permanent transfers from the transportation vehicle fund may only be approved if not detrimental to any function or project for which the fund was established

Board of directors must adopt a resolution specifying exact loan amount, funds involved, repayment source, and repayment schedule; districts under enhanced oversight also require approval from the appointed special administrator