Sec. 4. Before the board of trustees of a state educational institution may enter into an agreement with a third party to monetize a capital asset, the proposed principal terms of the agreement (including an estimated amount of the monetization proceeds) must be approved by the governor and the budget agency, after the recommendation of the budget committee, if the agreement will have:
(1) an annual transactional value that exceeds one million dollars ($1,000,000);
(2) a total transactional value that exceeds five million dollars ($5,000,000); or
(3) a term, including the initial term and any renewal terms, that exceeds ten (10) years.
As added by P.L.205-2013, SEC.335.