Washington State House of Representatives Office of Program Research | BILL ANALYSIS |
Capital Budget Committee |
HB 1532
This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent. |
Brief Description: Concerning budget submissions for capital design and construction at institutions of higher education.
Sponsors: Representatives Smith, Stanford, DeBolt, Riccelli and Tarleton.
Brief Summary of Bill |
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Hearing Date: 2/3/15
Staff: Christine Thomas (786-7142).
Background:
Cost Estimates for Capital Projects.
Cost estimates are decision-making tools that are required to be submitted to the Office of Financial Management in the biennial capital budget development process for all major capital projects that exceed $5 million. The purpose of the cost estimates is to provide detailed information regarding estimated costs for such project components as acquisition, consultant services, construction, equipment, project management, and other costs included as part of the project. These detailed cost estimates are used to make funding decisions in developing the capital budget.
A predesign study is another decision-making tool that is required for all capital projects that exceed $5 million. Chapter 162, Laws of 2014 increased the predesign project limit for higher education capital projects from $5 million to $10 million.
Summary of Bill:
The limit for cost estimates for major capital projects at institutions of higher education is increased from $5 million to $10 million to make the limit consistent with that of predesign studies of major capital projects at higher education institutions.
Appropriation: None.
Fiscal Note: Available.
Effective Date: The bill takes effect 90 days after adjournment of the session in which the bill is passed.