Section 40. The commissioner of capital asset management and maintenance shall establish rules and regulations for the acquisition, utilization and disposition of real property, which shall be applicable to state agencies and which shall be recommended to counties and building authorities and which shall be filed with the clerks of the house of representatives and the senate and the joint committee on state administration and regulatory oversight. The commissioner shall review rules and regulations promulgated by the director of housing and community development for the acquisition, utilization and disposition of real property and shall recommend approval or disapproval of such rules and regulations to said director. The commissioner may, at his discretion, delegate responsibility for the establishment of rules and regulations for the acquisition, utilization and disposition of real property, subject to his approval, to state agencies with special needs and a proven capability to promulgate such rules and regulations.

Such rules and regulations shall, at a minimum, provide for:

(a) a determination of the amount and type of real property needed to accommodate functions performed by agencies of the commonwealth;

(b) a standard format for rental agreements and rental specifications;

(c) current fair market rentals by geographical area;

(d) methods of procurement and evaluation of service contracts for state-owned and rented real property;

(e) procedures and criteria for determining when real property is not needed, is underutilized, or is not being put to optimum use;

(f) rates to be charged in the rental of real property to public and federal agencies and private individuals and entities;

(g) the method of procurement of independent determinations of property value, the number of such determinations, and the review of such determinations required before real property may be sold, purchased, or rented;

(h) procedures to be employed in determining prices and terms for the sale, rental, or purchase of real property and certification required for proof of such procedures;

(i) the satisfaction of requirements for the acquisition and disposition of real property as mandated by law and regulation;

(j) the organization of space within buildings to maximize utilization;

(k) a standard format for the disclosure of beneficial interest as mandated by section 38; and

(l) the type and method of collection of information to be included in the real property inventory established by section 39.

All such rules and regulations shall be filed in accordance with and subject to section 2 by the commissioner of the division of capital asset management and maintenance.