HB 2572: state lease-purchase agreements; payoff.

PRIME SPONSOR: Representative Cobb, LD 5

BILL STATUS: Appropriations




☐ Prop 105 (45 votes)	     ☐ Prop 108 (40 votes)      ☐ Emergency (40 votes)	☐ Fiscal NoteAppropriates $190 million from the GF in FY 2020 to retire specified lease-purchase agreements.


Laws 2010, Sixth Special Session, Chapter 4 required the Department of Administration (ADOA) to enter into lease purchase agreements for state-owned facilities by September 30, 2010 for a fixed term of not more than 20 years and resulting in net proceeds to the GF of not more than $300 million.

In June of 2010 ADOA sold an issuance of bonds against state-owned facilities to generate $300 million in net proceeds for deposit into the GF. JLBC projects that the June 2010 issuance, referred to as Series 2010B, will have a remaining principal balance of $190 million by the end of FY 2020. The annual debt service payment on this issuance is approximately $24 million. The appropriation for the FY 2019 payment was made in Laws 2018, Chapter 276, Section 133.

As introduced, HB 2572 is identical to the introduced version of SB1215.


1.       Appropriates $190 million from the GF in FY 2020 to ADOA to retire the lease-purchase agreements entered into in June of 2010. (Sec. 1)



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5.       Fifty-fourth Legislature                       HB 2572

6.       First Regular Session                            Version 1: Appropriations


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