H1030 - 2016 Appropriations Act. (SL 2016-94)

Overview: Sec. 37.7 of S.L. 2016-94:

• Prohibits State agencies from entering into leases of real property, either as lessor or lessee, for a period of more than 30 years unless the General Assembly has authorized the lease or unless certain exceptions apply.
• Prohibits State agencies from entering most leases as lessor that would require relocation of State functions or personnel if the agency to which the property is currently allocated possesses insufficient operating funds to cover the cost of both the relocation and the ongoing provision of State functions affected by the relocation.
• Imposes various reporting requirements related to the requirements of the section, and requires greater visibility for estimated operating costs of capital projects requested by State agencies.

This section became effective July 14, 2016, and applies to leases entered into or renewed, and to budgets recommended by the Director of the Budget, on or after that date.