Sec. 4a-9. Capital Equipment Purchase Fund.
Sec. 4a-9. Capital Equipment Purchase Fund. There is created a Capital Equipment Purchase Fund. The fund shall be administered by the Secretary of the Office of
Policy and Management. The fund shall be used for the purpose of acquiring, by purchase
or by exercise of prepayment or purchase options in existing capital leases entered into
by the state, capital equipment with an anticipated remaining useful life of not less than
five years from the date of purchase and (1) to the extent of not more than two million
nine hundred thousand dollars, payment for projects under subsection (a) of section 4-67f, and (2) to the extent of not more than one hundred thousand dollars, payment for
awards under subsection (b) of said section. Notwithstanding the provisions of this
section, or any regulations adopted under the general statutes, a state agency may purchase necessary data processing equipment that has a unit price of less than one thousand
dollars from the Capital Equipment Purchase Fund authorized under section 4a-10,
provided such equipment has a useful life of not less than five years.
(P.A. 87-361, S. 1, 3; P.A. 88-276, S. 1, 2; May Sp. Sess. P.A. 92-7, S. 3, 36; May Sp. Sess. P.A. 94-2, S. 2, 203; P.A.
96-27, S. 1, 2; P.A. 00-167, S. 56, 69; June Sp. Sess. P.A. 01-7, S. 24, 28.)
History: P.A. 88-276 removed former Subsecs. (b) and (c) concerning the Capital Equipment Debt Service Fund and
certain transitional provisions concerning the start-up of the Capital Equipment Purchase Fund; May Sp. Sess. P.A. 92-7
added provision regarding allocations for Sec. 4-67f; May Sp. Sess. P.A. 94-2 made technical change re application for
funds, effective July 1, 1994; P.A. 96-27 substituted requirement that fund be administered by Secretary of the Office of
Policy and Management for requirement that secretary submit written request to Commissioner of Administrative Services
for use of fund, effective July 1, 1996; P.A. 00-167 extended the requirement for useful life of equipment purchased under
this section from three to five years, effective July 1, 2000; June Sp. Sess. P.A. 01-7 added provision authorizing agencies
to purchase data processing equipment with a useful life of not less than five years and having unit price of less than $1,000
from the Capital Equipment Purchase Fund, effective July 1, 2001.