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Capital Renewal Project Cost Threshold

Concerning the cost threshold of controlled maintenance projects for capital renewal.
2024 Regular Session
Capital Construction
State Government
Bill Summary

Joint Budget Committee. The bill increases the cost threshold above which a controlled maintenance project of real property is deemed to be "capital renewal" (cost threshold). The cost threshold is increased from $2 million to $5 million. The bill also requires the department of personnel to adjust the cost threshold for inflation every 3 years beginning on January 1, 2029, and to publish the cost threshold on its website.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)


Became Law


Bill Text

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The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details