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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

The 2024 Statewide Ballot Information Booklet is now online