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Legislative Year: 2025 Change
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Bill Detail: SB25-248

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Title Repeal Lease Savings Transfer to Capital Construction Fund
Status Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole (04/01/2025)
Bill Subjects
  • State Government
  • State Revenue & Budget
House Sponsors S. Bird (D)
R. Taggart (R)
Senate Sponsors J. Bridges (D)
B. Kirkmeyer (R)
House Committee
Senate Committee Appropriations
Date Introduced 03/31/2025
AI Summary
Summary

Joint Budget Committee. Senate Bill 22-239 created a
mechanism by which state agencies that terminate a lease for private
space calculate the amount of annual reduction in the state agency's costs
(cost reduction) for leased space and the general assembly transfers to the
capital construction fund an amount equal to the cost reduction from the
fund that was the source of the funding for the lease. The transfer
continues annually until the amount transferred equals the amount that
Senate Bill 22-239 requires to be transferred to the capitol complex
renovation fund from annual depreciation-lease equivalent payments that
otherwise would be credited to state agency capital reserve accounts. To
date, no transfers for cost reduction have been made, nor are any
anticipated. The bill repeals this mechanism created by Senate Bill
22-239.

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