Relating to school system fiscal and governance early warning, stabilization, and accountability.

HB 5499 creates a system to monitor and address financial and governance issues in West Virginia school districts before they escalate. It requires the state to track specific indicators like over-reliance on temporary funding, declining savings, or repeated audit findings, and place districts meeting thresholds on a public "Watch List" with a requirement to submit a corrective action plan. The bill establishes a new independent Office of School System Performance and Accountability (OSPA) to oversee early intervention, stabilization, and transparency, while mandating detailed documentation before state takeover. This system aims to prevent crises through early transparency, local accountability, and structured support for school districts.