SECTION 1.  Prior to July 31, 2022, the division of capital asset management and maintenance, in consultation with the University of Massachusetts at Dartmouth, shall execute the purchase option for the facility located on 182 Union street in the city of New Bedford in accordance with terms set forth in the original lease agreement dated February 28, 2000, as extended by a one-year short-term tenancy agreement in fiscal year 2022. The division, in consultation with the inspector general and the University of Massachusetts at Dartmouth, shall examine current capital needs at the facility, including deferred maintenance costs, repairs and upgrades necessary to preserve artist and maker space in the fine arts programming, and renovations to create facilities for design and digital arts programs to compliment the traditional fine arts disciplines. The capital costs shall further enhance the next phase of creative economy connecting downtown arts, commerce and entertainment by integrating modern design and digital arts with traditional fine arts in downtown New Bedford. The division shall submit a report detailing those capital needs to the house and senate committee on ways and means not later than September 1, 2022. No funds from a reserve account, or otherwise, shall be expended by the comptroller to maintain or renovate the facility until such time as the purchase option is executed.

SECTION 2. This act shall take effect on July 1, 2022.