The committee is a permanent subcommittee of the Legislative Research Commission and is charged with overseeing (1) the expenditure of funds budgeted for capital projects; (2) the allotment of funds from the Emergency Repair, Maintenance, and Replacement Account and the Capital Construction and Equipment Purchase Contingency Account; (3) the state's acquisition of capital assets, including the lease of real property; (4) the issuance of bonds by the Commonwealth and related individual projects; and (5) the issuance of bonds by or on behalf of local school districts.