Bill > SB305

This bill, the Capital Outlay Reform Act, creates a framework for managing and overseeing the state's capital improvement projects. It establishes a Capital Outlay Committee and a Capital Projects Task Force to develop and approve an annual state capital improvements plan and capital project expenditure authorization legislation. The bill also creates a Capital Planning and Assistance Division within the Department of Finance and Administration to provide information and assistance to government entities on capital project planning, budgeting, and administration. The bill sets out specific requirements and processes for evaluating and prioritizing capital project proposals, as well as compliance measures for the release of capital project funding.

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=305&year=21