Bill > HB2551

This bill allows school districts facing significant financial difficulties, specifically those with an estimated ending fund balance of three percent or less of their estimated total revenues, to request authorization from the superintendent of public instruction to sell district-owned real property. This authorization can only be granted if the sale is deemed necessary to restore financial stability, prevent negative impacts on student learning, and if the proceeds will be used solely to address the financial burdens causing the solvency issues. The office of the superintendent of public instruction will establish rules to ensure transparency, accountability, and proper use of sale proceeds, and will limit school districts to receiving such authorization only once every five years. The bill also amends existing laws to clarify that proceeds from property sales can be used for these purposes, in addition to existing provisions for debt service and capital projects funds, or when authorized by a financial oversight committee.

Budget and Finance, Education

https://app.leg.wa.gov/billsummary?BillNumber=2551&Year=2025&Initiative=false