A BILL TO BE ENTITLED
AN ACT allowing state agencies and universities to utilize installment or lease‑purchase contracts to finance energy and water conservation measures in state facilities.
The General Assembly of North Carolina enacts:
SECTION 1.  Part 1 of Article 3B of Chapter 143 is amended by adding the following new section to read:
"§ 143-64.15B.  Installment and lease-purchase contracts.
After consulting with the Joint Legislative Commission on Governmental Operations and obtaining the approval of the State Treasurer and the Office of State Budget and Management, State agencies and universities may finance the acquisition, installation, or maintenance of energy conservation measures in State facilities utilizing 12-year installment or lease-purchase contracts. State agencies and universities shall use installment or lease-purchase contract forms preapproved by the Department of Administration and the State Treasurer. Prior to entering into installment or lease-purchase contracts, the State agency or university shall submit all contract proposals and designs to the Department of Administration for approval. The Department of Administration shall adopt rules to implement this section."
SECTION 2.  This act is effective when it becomes law.