(1) As used in this section, "lease" means for a procurement unit to lease or lease-purchase a procurement item from a person.
(2) This section does not apply to the lease of real property.
(3) A procurement unit may not lease a procurement item unless the procurement unit complies with the requirements of this section.
(4) A procurement unit may lease a procurement item if:
(a) the procurement officer determines that it is in the best interest of the procurement unit to lease the procurement item, after the procurement officer:
(i) investigates alternative means of obtaining the procurement item; and
(ii) considers the costs and benefits of the alternative means of obtaining the procurement item;
(b) all conditions for renewal and cost are included in the lease;
(c) the lease is awarded through a standard procurement process, or an exception to a standard procurement process described in Part 8, Exceptions to Procurement Requirements;
(d) for a standard procurement process, the invitation for bids, request for proposals, or request for quotes states:
(i) that the procurement unit is seeking, or willing to consider, a lease; and
(ii) for a lease purchase, that the procurement unit is seeking, or willing to consider, a lease-purchase;
(e) the lease is not used to avoid competition; and
(f) the lease complies with all other provisions of law or rule applicable to the lease.