In this section the following words have the meanings indicated. “Capital expenditure” includes an expenditure for: acquisition of land, buildings, or equipment; or new construction. “Miscellaneous capital grant” means a grant for a capital project for an entity that is not a unit of State government funded in the annual State operating budget within the Department of General Services. At the end of a fiscal year, the unspent part of an appropriation for a capital expenditure made through the State budget or a supplementary appropriation act other than an enabling act for a general obligation loan: does not revert to the General Fund; and with the approval of the Board of Public Works, may be carried in a capital account until it is spent in accordance with subsection (c) of this section or until the authority to spend the appropriation for a project terminates. Money carried in a capital account under subsection (b) of this section may be spent only for a capital purpose. Unless otherwise provided by law, the authority to spend the appropriation for a project terminates: 1 year after the latest of abandonment, completion, or acceptance of the project; or except to the extent the Board has encumbered money for a State project or program authorized by an appropriation act, 7 years after the effective date of the appropriation act that authorized the project unless: the appropriation act provides otherwise; or in an emergency, the Board unanimously grants a temporary exception for 1 year. This subsection applies to a miscellaneous capital grant 3 years or more after the effective date of the appropriation act that authorized the grant. On or before July 1 each year, the Department of General Services shall submit to the Legislative Policy Committee, in accordance with § 2–1257 of the State Government Article, a report that identifies each grant for which: no part of the grant is under contract approved by the Board; and the Board has not encumbered money for any part of the grant.