CAPITAL OUTLAY: Provides relative to the capital outlay process. (7/1/24) (EN INCREASE LF EX See Note)

SB 318 amends the state capital outlay process to clarify how long-term major capital maintenance is defined for public projects. The bill specifically adds a requirement to include rules that establish clear criteria for what counts as long-term major capital maintenance. This change directly affects state agencies responsible for managing and reporting on infrastructure projects and their associated costs. By refining these definitions, the legislation aims to provide more precise guidelines for financial reporting and project classification within the state budget system.