HI HB1472

Reduces the transfer percentage into the Works of Art Special Fund from one percent to 0.5 percent of state fund appropriations for capital improvements designated for construction cost elements.

Limits the 0.5 percent transfer requirement to capital improvement appropriations designated for construction of new state buildings, properties, or facilities (excluding renovation projects).

Maintains exemptions from the transfer requirement for appropriations from the passenger facility charge special fund and the rental motor vehicle customer facility charge special fund.

Requires the comptroller to provide agencies with guidance on calculation of the 0.5 percent amount, ensure correct calculations, and track amounts due from each agency under this requirement.

Takes effect upon approval.