Currently, a department must annually calculate depreciation of a
capital asset acquired, repaired, replaced, improved, renovated, or constructed with money appropriated to a cash fund. The depreciation amount is deducted from the cash fund and allocated to the capitol complex renovation fund through July 1, 2028. The bill extends the deposit of the depreciation amount into the capitol complex renovation fund (fund) through July 1, 2029.
The bill allows money from the fund to be allocated to projects that address accessibility under the federal Americans with Disabilities Act of 1990 and other improvements, including improvements to the first floor, basement, and cafeteria of the capitol building. Currently, the fund will be repealed on July 1, 2030. The bill extends the repeal date to July 1, 2031.
