HB18-1374

HB18-1374 - Controlled Maintenance Financed Acquired Prop

Active
Concerning controlled maintenance needs of real property acquired through a lease-purchase agreement.

Capital Development Committee. The bill specifies that any real property acquired by a state agency or a state institution of higher education through a lease-purchase agreement is not eligible for state controlled maintenance funding. The bill specifies that any bill enacted by the general assembly on or after the effective date of the legislation authorizing a lease-purchase agreement for the acquisition of real property must include a requirement that the state agency or state institution of higher education entering into the lease-purchase agreement present a plan to the capital development committee, by a specified date, that details how the state agency or state institution of higher education is prepared to fund the controlled maintenance needs of the real property so that at least a specified amount is available for the controlled maintenance needs of the real property. The plan may include an additional lease-purchase agreement for such controlled maintenance needs or may include a request for partial or complete state funding of such controlled maintenance needs. The bill also requires the state treasurer to advise any state agency or state institution of higher education regarding the controlled maintenance reserve requirement.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

House Committees

Senate Committees

Latest update: May 15, 2018
05/15/2018 - Sent to the Governor
05/03/2018 - House Considered Senate Amendments - Result was to Concur - Repass
04/26/2018 - House Considered Senate Amendments - Result was to Laid Over Daily
04/26/2018 - Senate Third Reading Passed - No Amendments
04/25/2018 - Senate Second Reading Special Order - Passed with Amendments - Committee
04/24/2018 - Senate Committee on Finance Refer Amended - Consent Calendar to Senate Committee of the Whole
04/23/2018 - Introduced In Senate - Assigned to Finance
04/20/2018 - House Third Reading Passed - No Amendments
04/19/2018 - House Second Reading Special Order - Passed with Amendments - Committee, Floor
04/16/2018 - House Committee on Finance Refer Amended to House Committee of the Whole
04/09/2018 - Introduced In House - Assigned to Finance