Senate panel approves updated property-disposition thresholds to reflect inflation

Senators considered a bill to update thresholds for Board of Finance approval of property dispositions and agency disposals. The sponsor said the thresholds had not been revised since the late 1980s and that the change was intended to reduce administrative burden for low-value transactions. The adopted bill raised the real-property disposition threshold from $5,000 to $30,000, increased the cap for disposition review to higher tiers, and moved state-agency disposal thresholds from $100,000 to $550,000 in the language presented.