On or before December 31, 2024, the governor's office of information technology (office) is required to promulgate rules to establish a technology life-cycle plan. The rules may consider information security risk, infrastructure risk, operating cost misalignment, productivity cost misalignment, or talent depreciation in connection with an information technology system or asset. For every initial appropriation for an information technology capital project in the capital construction section of the annual general appropriation act for the 2025-26 state fiscal year and each state fiscal year thereafter other than appropriations from specified excluded sources, the general assembly is required to set aside additional funding for information technology annual depreciation-lease equivalent payments. On or before November 1, 2025, and on or before November 1 of each year thereafter, the office is required to submit a report to the joint budget committee and the joint technology committee that provides an estimate of the state's technical debt environment. For each cash fund from which money is appropriated for an information technology capital project, the principal department responsible for the accounting related to the cash fund is required to identify in the cash fund balance report an information technology capital reserve, which consists of an amount equal to the depreciation of the depreciable components of the information technology capital project, based on the depreciation period. APPROVED by Governor June 7, 2024 EFFECTIVE June 7, 2024(Note: This summary applies to this bill as enacted.)