ASSEMBLY, No. 4567

STATE OF NEW JERSEY

216th LEGISLATURE

 

INTRODUCED JUNE 18, 2015

 


 

Sponsored by:

Assemblyman  BENJIE E. WIMBERLY

District 35 (Bergen and Passaic)

Assemblywoman  L. GRACE SPENCER

District 29 (Essex)

Assemblywoman  SHAVONDA E. SUMTER

District 35 (Bergen and Passaic)

 

Co-Sponsored by:

Assemblymen Mainor, Giblin, Coughlin and Assemblywoman Jasey

 

 

 

 

SYNOPSIS

     Prohibits certain school districts under State intervention from leasing building if purchase price would be less than total costs of lease.

 

CURRENT VERSION OF TEXT

     As introduced.

  


An Act concerning school districts under State intervention and supplementing chapter 7A of Title 18A of the New Jersey Statutes.

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.    A school district under State intervention which has not successfully met the governance component of school district effectiveness, or the State on behalf of the district, shall not enter into a lease for a building as a lessee, if the total lease cost over the term of the lease would exceed the purchase price of the building.

 

     2.    This act shall take effect immediately.

 

 

STATEMENT

 

     This bill prohibits a school district under State intervention which has not had the governance component of school district effectiveness returned to local control, or the State acting on its behalf, from leasing a building as a lessee, if the total costs of the lease exceed the purchase price of the building.