SB76 Summary

• Establishes centralized management of state-owned and leased real property within the Department of Finance through five new divisions: Space Management, Facilities Management, Leasing Management, Construction Management, and Energy Management.

• Abolishes the Building Commission effective October 1, 2015, transferring all its powers, duties, and responsibilities to the Division of Construction Management within the Department of Finance.

• Creates a permanent joint legislative oversight committee consisting of the Lieutenant Governor, Speaker of the House, three House members, and three Senate members to review implementation and performance of real property management requirements.

• Exempts educational facilities, legislative and judicial branches, retirement systems, port authority, military department, and several other state entities from the bill's requirements unless they elect otherwise.

• Establishes a Real Property Management revolving fund to receive user fees, appropriations, and other funds from the five divisions to finance ongoing operations and facilities management.