State Equipment Finance Program
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The State Equipment Finance Program provides capital funding to State agencies for the acquisition or modernization of various types of equipment.
Budget Highlights
The FY 2024 Executive Budget includes a new $100 million appropriation to acquire or modernize State equipment. This centralized approach to equipment acquisition allows the State to allocate additional capital funding based on enterprise-wide assessment of agency needs. Equipment purchases may include the acquisition and/or modernization of information systems, health and safety equipment, heavy equipment and machinery, security systems, and laboratory equipment.
The Executive Budget recommends the reappropriation of $454 million, which will continue to support similar equipment acquisitions.
| Category | Available FY 2023 |
Appropriations Recommended FY 2024 |
Change From FY 2023 |
Reappropriations Recommended FY 2024 |
|---|---|---|---|---|
| Capital Projects | 100,000,000 | 100,000,000 | 0 | 454,395,000 |
| Total | 100,000,000 | 100,000,000 | 0 | 454,395,000 |
| Comprehensive Construction Program | Available FY 2023 |
Recommended FY 2024 |
Change | Reappropriations FY 2024 |
|---|---|---|---|---|
| Equipment Acquisition | ||||
| Capital Projects Fund - Authority Bonds | 100,000,000 | 100,000,000 | 0 | 362,073,000 |
| Program Changes and Expansion | ||||
| Capital Projects Fund - Authority Bonds | 0 | 0 | 0 | 92,322,000 |
| Total | 100,000,000 | 100,000,000 | 0 | 454,395,000 |
Note: Most recent estimates as of 02/01/2023