Bill > HB1403

This bill modifies existing law regarding the handling of unexpended funds within the Information Technology Capital Account, which is a special account within the state's capital construction fund used for information technology projects. Specifically, for state fiscal years beginning on or after July 1, 2026, the bill prevents the state treasurer from transferring money that was originally deposited into this account as an "information technology annual depreciation-lease equivalent payment" to the general fund. These specific payments, made in accordance with another section of law (24-37.5-127(2)), and any other amounts transferred or credited to the account under that same section, must now be used according to the provisions of section 24-37.5-127. This change aims to keep these particular funds dedicated to their intended purposes rather than allowing them to revert to the general fund, which is the default for other unexpended balances in the account for fiscal years starting after July 1, 2025.