school districts; leases; affordable housing

SB 1259 amends Arizona Revised Statutes § 15-342 to clarify school districts' authority to lease or sell property. It specifically allows school districts to enter leases or lease-purchase agreements for school buildings for 20-99 years *without voter approval* under four conditions: (1) property value under $50,000, (2) transactions funded by state school facilities divisions, (3) sales tied to replacement property via a formal plan, or (4) sales for bonded debt reduction or tax levy cuts. The bill does not address housing policy, despite its title; it solely modifies existing school district real estate procedures. This change affects school districts’ ability to manage property sales/leases while reducing voter approval requirements in specified scenarios.