§ 3-603. Requirements; contents

Latest version.

(a) Program required. -- The Department shall prepare, revise, and keep current a 5-year capital program.

(b) Contents. -- The capital program shall include all capital projects of the State whether funded by bond authorizations, operating budget funds, or capital leases.

(c) Consistency with recommendations required. -- The capital program shall be consistent with the annual recommendations of the Capital Debt Affordability Committee.

(d) Source of funding. -- Except for the first year of the program, the capital program may not include General Fund capital appropriations as a source of funding other than for projects or programs that are ineligible for tax-exempt debt financing.

HISTORY: An. Code 1957, art. 88C, § 2, 6; 1985, ch. 11, § 2; 1988, ch. 312; 1989, ch. 540, § 1; 2002, ch. 440, § 8.

                    
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