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Bill would let struggling school districts sell property with OSPI approval; Tacoma endorses measure
Summary
House Bill 2,551 would allow school districts with an estimated ending fund balance at or below 3% of revenues to request superintendent approval to sell district real property as a one-time tool to restore solvency; Tacoma School District testified in support, emphasizing fiscal pressure on districts.
OLYMPIA — The Capital Budget Committee heard a briefing and public testimony on House Bill 2,551, which would permit school districts with severely constrained ending fund balances (3% or less of estimated revenues) to request authorization from the state superintendent of public instruction to sell district real property to restore financial stability.
John Wilson, committee staff, summarized the bill’s mechanics: boards retain ownership and control of district property but districts in or…
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