Bill > SB5095

This bill modifies state law to provide school districts with additional flexibility in contracting indebtedness for school construction projects. Specifically, the bill allows school districts to issue nonvoted bonds (debt without voter approval) for certain purposes, but with new conditions. To use nonvoted bonds for construction, modernization, or remodeling of school facilities, a district must: 1) have received voter approval for a levy supporting school facility improvements, 2) not have been under financial constraints in the previous two years, and 3) forfeit potential state funding assistance for the project. The bill also updates the bond issuance process by requiring public notice and a hearing for nonvoted bond issuance over $250,000, specifying details such as bond purpose, amount, terms, and repayment methods. Additionally, the bill prohibits state funding assistance for projects funded through nonvoted bonds, ensuring that districts cannot simultaneously receive state funds and use nonvoted bonds for the same school construction project. These changes aim to provide school districts with more financial options while maintaining fiscal accountability and transparency.

Budget and Finance, Education

https://app.leg.wa.gov/billsummary?BillNumber=5095&Year=2025&Initiative=false