SB 24-224 Summary

• The Office of Information Technology must promulgate rules by December 31, 2024, establishing a technology life-cycle management plan that considers information security risk, infrastructure risk, operating costs, productivity costs, and talent depreciation for IT systems and assets.

• Beginning with the 2025-26 budget cycle, state agencies receiving IT capital project appropriations must set aside additional annual funding equal to the depreciation of IT assets, with the funding source and amount varying based on whether the appropriation comes from cash funds, general fund, or financing arrangements.

• Agencies funded from cash funds must deposit depreciation-equivalent payments into IT capital reserve accounts; agencies funded from the general fund must deposit payments to the IT capital account, with 1% of project costs dedicated to the Technology Risk Prevention and Response Fund.

• The Office must submit annual fiscal impact analyses to the Office of State Planning and Budgeting by June 15 beginning in 2025, including estimated general fund requirements for IT depreciation payments and current IT assets subject to these payments.

• The Office must submit an annual technical debt environment report to the Joint Budget Committee and Joint Technology Committee by November 1, beginning in 2025.