29 V.S.A. § 160

(a) There is established a Property Management Revolving Fund to provide space for office accommodations and other related purposes for which space is not available in buildings owned by the State. Space may be provided through the Fund for such departments or programs as the Secretary of Administration determines, except that space requirements for the Department of Forests, Parks and Recreation, the Department of Fish and Wildlife, the department controlling buildings designated as historic sites, the Military Department, and the Department of Labor shall be covered by this section only by executive order of the Governor.

(b) The Fund shall consist of:

(1) monies that are appropriated to the Fund, or that are paid to it under authorization of the Emergency Board;

(2) the proceeds of rental income received by the Department of Buildings and General Services from the leasing of property under its supervision; and

(3) fees to be paid by departments and agencies which shall be fixed by the Commissioner of Buildings and General Services subject to the approval of the Secretary of Administration, based on rentals, janitorial services, supplies, and other expenses necessarily incurred in providing space for such agencies.

(c) Monies from the Fund shall be expended for rental of property for the purposes contemplated in this section, and to defray the cost of custodial services and other expenses necessary to the proper use and enjoyment of such premises by the occupant. Monies from the Fund may also be expended for management of buildings and property under the jurisdiction of the Department of Buildings and General Services, including inventory, appraisal, space study and allocation, and renovations. Cost of studies, renovations, alterations, and modifications shall not exceed $50,000.00 unless approved by the Secretary of Administration.

(d) The Department of Buildings and General Services shall be responsible for administering the interests of the State in all existing leases and rentals for purposes that are designated in subsection (a) of this section in which the State is either a landlord or a tenant and where the name of another department or agency appears in any such lease, the Department of Buildings and General Services shall serve as the representative of that agency with all rights and responsibilities therein provided. All leases, rentals, or renewals for the benefit of departments or agencies to which this section applies shall, beginning on July 1, 1969, be made and executed by and in the name of the Commissioner of Buildings and General Services.

(e) The Commissioner of Buildings and General Services shall supervise the receipt and expenditure of monies comprising the Property Management Revolving Fund, subject to the provisions of this section. He or she shall maintain accurate and complete records of all such receipts and expenditures and shall make an annual report on the condition of the Fund to the House Committee on Corrections and Institutions and the Senate Committee on Institutions. All balances remaining at the end of a fiscal year shall be carried over to the following year.