insolvent school districts; student funding

HB 2915 defines when Arizona school districts are considered insolvent (e.g., unable to pay debts, teacher salaries unpaid for 45+ days, or bond defaults) and authorizes the state board of education to intervene. If a district meets insolvency criteria, the state board appoints a financial receiver to take control of operations. The receiver can reassign staff, cancel non-teacher contracts (except for certificated teachers with over a year of service), create a 120-day financial improvement plan, and oversee budget reforms. This directly affects school districts deemed insolvent, ensuring student funding stability through state-led financial restructuring.