HB 697 Summary

• Requires the state auditor to study departmental engineering sections (excluding transportation) that manage general fund capital improvement projects and submit findings and recommendations to the legislature by November 30, 2015.

• Authorizes the Department of Accounting and General Services to facilitate facility agreements between the State and private investors for the sale and leaseback of state-owned facilities, with the State retaining land ownership and maintaining a buyback option for remaining debt service costs.

• Requires the Department of Accounting and General Services to conduct an inventory of all property leases between state agencies and private entities, with a report due 20 days before the 2016 legislative session convenes.

• Appropriates $250,000 from general revenues for fiscal year 2015-2016 to conduct the lease inventory.

• Takes effect July 1, 2015.