S199 — Requires Commissioner of Education and Local Finance Board approval for certain board of education leases exceeding 20 years; authorizes boards to enter into 20-year lease purchase agreements for improvements or additions to school buildings.

S199 — Requires Commissioner of Education and Local Finance Board approval for certain board of education leases exceeding 20 years; authorizes boards to enter into 20-year lease purchase agreements for improvements or additions to school buildings. · Informed CitizenryThis legislation changes the rules surrounding long-term property agreements for local school districts. Specifically, it requires that any lease agreement signed by a board of education that lasts…Open in Informed Citizenry