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Connecticut Public Acts 1996

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House Bill No. 5358

PUBLIC ACT NO. 96-27

AN ACT CONCERNING THE CAPITAL EQUIPMENT PURCHASE FUND.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Section 4a-9 of the general statutes is repealed and the following is substituted in lieu thereof:

There is created a Capital Equipment Purchase Fund. [A written request of] THE FUND SHALL BE ADMINISTERED BY the Secretary of the Office of Policy and Management [to the Commissioner of Administrative Services shall be required to use the fund] THE FUND SHALL BE USED for the purpose of acquiring, by purchase or by exercise of prepayment or purchase options in existing capital leases entered into by the state, capital equipment with an anticipated remaining useful life of not less than three years from the date of purchase and (1) to the extent of not more than two million nine hundred thousand dollars, payment for projects under subsection (a) of section 4-67f and (2) to the extent of not more than one hundred thousand dollars, payment for awards under subsection (b) of said section.

Sec. 2. This act shall take effect July 1, 1996.

Approved April 29, 1996. Effective July 1, 1996.

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