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(1) The director shall:
(a) prepare a standard form upon which a leasing agency and another state institution or entity can report the current and proposed lease activity of the leasing agency, institution, or entity, including any lease renewal; and
(b) develop procedures and mechanisms within the division to:
(i) obtain and share information about each leasing agency's real property needs; and
(ii) provide oversight and review of lessors and lessees during the term of each lease.
(2) Each leasing agency, the Judicial Council, and the board of trustees for each institution of higher education, shall report all current and proposed lease activity on the standard form prepared by the division to: