Agency: Capital Budget

Line Item: Property Acquisition

Function

By definition, any purchase of real property where an appropriation is requested to fund the purchase is a capital development. The Legislature uses this line item to fund acquisitions of existing real property, whereas it uses the Capital Development line item to fund construction of buildings.

Funding Detail

In addition to property purchases, the 2008 Legislature appropriated $1,600,000 from the Education Fund as a FY 2008 supplemental to pay off the debt on the Sevier Valley Center at the Snow College Richfield Campus. This line item did not receive any funding in the last four years, though funds were appropriated to the Land Banking line item in FY 2009.