SB 488 - State-funded buildings over 5,000 square feet constructed after August 28, 2012 must be certified, at minimum, as meeting the Two Globes level under the Green Globes building rating system. The act prescribes certain points that must be earned in achieving the Two Globes certification. The Office of Administration may waive the points requirements for economic feasibility reasons. State-funded building renovation and commercial interior fit-out projects must be analyzed under one of several options, including a life cycle cost analysis comparing the costs and benefits of renovating to the Two Globes standard, normal industry standards, or a building standard in between. The Office of Administration may petition the General Assembly to require all state-funded building construction and renovation projects to meet a different or additional high-performance building standard, provided that such building standard is at least as stringent as the Green Globes standard. The act requires periodic inspections of buildings built to the Two Globes standard. The inspector must report its findings to the Office of Administration and the state agency that occupies the building. For 15 years, the Office of Administration must monitor and evaluate the energy and environmental benefits associated with each building subject to the act's requirements. The Office of Administration must submit a report to the energy committees in the House of Representatives and the Senate regarding activities and information that result from the act's provisions. This act is identical to SCS/SB 22 (2011) and similar to SB 952 (2010). ERIKA JAQUES