Summary of Substitute House Bill 5

• Amends the leverage for efficiency, accountability, and performance fund to allow the Auditor of State to allocate up to 50% of fund resources toward conducting feasibility studies on efficiency and cost savings for state agencies and local public offices.

• Permits state agencies and local public offices to request feasibility studies to determine if shared services or facilities with other agencies could improve efficiency, with a 60-day opt-out period for identified entities.

• Requires the Auditor of State to provide written notice 10 days before commencing a feasibility study and to conduct a public hearing within 180 days after completing the study, with notice posted on the auditor's website.

• Authorizes the Auditor of State to establish a voluntary shared equipment service agreement program allowing state agencies and political subdivisions to lend capital equipment for temporary use by other participating entities.

• Allows recipient state agencies and political subdivisions to assume potential liability under the shared equipment agreements for damages arising from equipment use in performing governmental or proprietary functions.