41-793.01. Formula for building renewal monies; legislative appropriations

A. The joint committee on capital review shall develop and approve a uniform formula for computing annual funding needs of building systems for building renewal. In developing a formula, the committee shall take into consideration at least the following factors:

1. The current replacement value of buildings, including structures capitalized as part of the original cost of the buildings.

2. The original construction cost of buildings, including structures capitalized as part of the original cost of the buildings.

3. The current age of buildings.

4. The expected useful life of buildings, including any extraordinary use or functions of the building.

B. In developing a building renewal formula pursuant to subsection A of this section, the committee shall develop and approve a uniform format for all building systems for the collection of data required by the building renewal formula.

C. The amount computed pursuant to this section for building renewal for each building system shall be incorporated into the capital improvement plan required pursuant to section 41-793.

D. The agency responsible for a building system shall allocate and expend the amounts appropriated for building renewal within the building system. The department may use up to eight per cent of the amount appropriated for routine preventive maintenance.

E. Notwithstanding this section or any other law, monies that are appropriated or available for building renewal may be spent for state building modifications to comply with the federal Americans with disabilities act of 1990 (42 United States Code sections 12101 through 12213 and 47 United States Code sections 225 and 611).