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

Overview: Sec. 37.8 of S.L. 2016-94, as amended by Sec. 10.1 of S.L. 2016-123, prohibits State agencies from entering into any State-supported financing arrangement with respect to the acquisition of a capital asset having a value of $5 million or more, unless the General Assembly has enacted legislation expressly approving (i) the acquisition, project, or undertaking to be financed and (ii) the use of the State supported financing arrangement.

This section became effective July 1, 2016.