HI SB165

Authorizes the Department of Accounting and General Services (DAGS) to facilitate facility agreements allowing the State to sell state facilities to private investors, who then renovate/improve them and lease them back to the State.

Grants the State an option to purchase leased facilities from private investors for the remaining balance of debt service costs incurred by the investor at any time.

Adds "lease buyback processing" to DAGS's responsibilities under centralized engineering and office leasing services for state buildings.

Requires DAGS to conduct a complete inventory of all property leases between state agencies and private entities, with findings and recommendations reported to the legislature by twenty days before the 2016 regular session.

Appropriates unspecified general revenues to DAGS for fiscal year 2015-2016 to conduct the lease inventory.