63A-5b-703. Agency lease payments.

167 words·~1 min read·/ut/title-63a/chapter-5b/63a-5b-703·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 5/12/2020

(a)Beginning July 1, 2020, the division shall implement a program to charge agencies, except institutions of higher education, lease payments for the agency's use and occupancy of space within a building.

(b)Before July 1, 2020, the division shall:

(i)conduct a market analysis of market lease rates for comparable space in buildings comparable to division-owned buildings; and

(ii)establish lease rates for an agency's use and occupancy of a division-owned building.

(c)The lease rates shall be:

(i)consistent with market rates for comparable space in comparable buildings;

(ii)calculated to cover:

(A)an amortized amount for capital replacement;

(B)an amount for capital improvements; and

(C)operation and maintenance costs; and

(iii)in proportion to legislative appropriations.

(2)In making appropriations to cover lease payments under this section, the Legislature shall create a line item, as defined in Section 63J-1-102 , for each agency to fund the lease payments.

Enacted by Chapter 152 , 2020 General Session