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 bill amends N.J.S.18A:20-4.2 to change the requirements for school district leases and lease-purchase agreements. Specifically, it increases the threshold for required approval from the Commis…Open in Informed Citizenry