Synopsis As Introduced Amends the State Finance Act. Provides that certain requirements concerning mileage reimbursement do not apply to agencies under the jurisdiction of the Governor's Travel Control Board. Provides that for agencies under the jurisdiction of the Governor's Travel Control Board, mileage reimbursement rates for automobile travel using an employee's personal vehicle for State business shall be established by the Governor's Travel Control Board and adjusted periodically at the advisement of the Department of Central Management Services. Provides that rates shall be based on a formula considering the fluctuations in vehicle and vehicle operating costs and the cost to operate a State vehicle, but in any event will not exceed the rate in effect under regulations pursuant to federal law. Requires the rates to be reviewed at least once per year. Requires the Board to formalize and approve the formula for determining its mileage rate adjustment recommendations.