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HB24-1422

Capital Renewal Project Cost Threshold

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

The act increases the cost threshold above which a controlled maintenance project of real property is deemed to be "capital renewal" (cost threshold) from $2 million to $4.7 million. The act 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.

APPROVED by Governor April 29, 2024

EFFECTIVE August 7, 2024
(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. S. Bird, Rep. R. Taggart
Sen. B. Kirkmeyer, Sen. R. Zenzinger

Sponsor

Rep. E. Sirota
Sen. J. Bridges

Co-sponsor

Rep. M. Catlin, Rep. J. McCluskie, Rep. M. Snyder, Rep. C. deGruy Kennedy
Sen. C. Hansen, Sen. N. Hinrichsen, Sen. K. Mullica, Sen. K. Priola, Sen. D. Roberts, Sen. J. Smallwood

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