(a) This section does not apply to a lease entered into on or before May 31, 1967, unless the lease is renewed after that date. (b) An appropriation may not be obligated or spent for the lease of a building or part of a building to be occupied by the State or a unit of the State government for a State purpose at an annual rent that exceeds 15% of the fair market value of the leased premises on the date of the lease.
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