The Virginia Information Technologies Agency (VITA) is hereby granted approval, pursuant to the Public-Private Educational Facilities and Infrastructure Act of 2002 (§ 56-575.1 et seq, Code of Virginia), to enter into a comprehensive agreement with a private entity for the provision of information technology (IT) infrastructure services to Commonwealth executive agencies and other customers. Approval is also granted to enter into, as needed, capital leases for any components of the comprehensive agreement that may qualify as capital lease agreements. VITA shall identify any components of the comprehensive agreement that qualify as capital leases, as defined by Generally Accepted Accounting Principles (GAAP), and report such leases to the Department of Accounts, the Department of the Treasury, and the Department of Planning and Budget. The foregoing comprehensive agreement is exempt from § 4-3.03 b.2.of his act.