Requires SDA districts to solicit at least three lease proposals prior to entering into lease agreement with developer for construction and lease of new school building.

This bill requires School District Authority (SDA) districts in New Jersey to solicit at least three lease proposals from developers before signing a contract for new school building construction. To ensure fair competition, the school business administrator must create a standardized request for proposals that outlines evaluation criteria based on technical, management, and cost factors, with a 30-day public notice period for submissions. The legislation mandates that the final selection process be transparent, including a public report ranking the developers and detailing the chosen lease terms, while prohibiting negotiations on proposal terms after submission.