Capital Renewal Project Cost Threshold

Joint Budget Committee. The bill increases the cost threshold above which a controlled maintenance project of real property is deemed to be "capital renewal" (cost threshold). The cost threshold is increased from $2 million to $5 million. The bill also requires the department of personnel to adjust the cost threshold for inflation every 3 years beginning on January 1, 2029, and to publish the cost threshold on its website.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)