Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Bill would let near‑insolvent districts sell property with OSPI approval; sponsor and districts say it could prevent dissolutions
Summary
HB 2,551 would allow districts with an estimated ending fund balance at or below 3% to request OSPI authorization to sell real property to restore financial stability. Supporters, including Tacoma representatives, said earlier flexibility could avert binding conditions; members and witnesses raised questions about protecting appreciating assets and how proceeds would be handled.
A bill that would let school districts sell real property before they enter binding financial conditions drew testimony about whether the policy would protect local communities or risk stripping districts of valuable assets.
Ethan Moreno briefed HB 2,551, explaining the Board of Directors of a district with an estimated ending fund balance equal to 3% or less of estimated total revenues could request authorization from the superintendent of public instruction to sell district real property. Under the bill the superintendent may grant authorization only if the sale is necessary to restore financial stability, necessary to prevent adverse impacts to student…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
