(1) Districts shall have the option, as a matter of board policy, of allowing their employees to share leave with employees of other districts or state employers, or to receive leave from employees of other districts or state employers.

(2) The leave recipient shall be paid his or her regular rate of pay. Therefore, the value of one hour of shared leave may cover more or less than one hour of the recipient's salary.

(3) Leave shared between districts and/or state employers shall be calculated in a format designated by the office of superintendent of public instruction. Donated shared leave shall be converted into the dollar equivalent. Received shared leave shall be converted from the dollar amount received into days to be paid. Shared leave shall be transferred between districts and/or state employers based on the dollar equivalent computed under this section.

(4) Leave received shall be coded as shared leave and shall be maintained separately from all other leave balances.