CO SB166

Authorizes the State Treasurer to enter into lease-purchase agreements for real property on behalf of the Department of Personnel for exclusive use by state agencies and non-state lessees.

Requires annual lease-purchase payments to not exceed projected annual rent costs of state agencies plus rental income from non-state lessees, with all agreements subject to General Assembly appropriation.

Establishes prerequisites for lease-purchase agreements including state architect review, approval by the Office of State Planning and Budgeting, and Capital Development Committee approval.

Creates a Lease-Purchase Rental Cash Fund to receive revenues from non-state lessees and a Lease-Purchase Servicing Account within the Capital Construction Fund to pay annual lease-purchase payments and maintenance costs.

Limits lease-purchase agreement terms to the shorter of 25 years or the remaining useful life of the building, and authorizes the state to receive title to all property and reduce terms through prepayment.