Amended in Assembly March 28, 2014

California Legislature—2013–14 Regular Session

Assembly Bill No. 2174

Introduced by Committee on Accountability and Administrative Review (Assembly Members Frazier (Chair), Achadjian (Vice Chair), Buchanan, Ian Calderon, Cooley, Medina, and Quirk-Silva)

February 20, 2014

An act relating to state begin delete property end delete begin insert property, and making an appropriation therefor end insert .

LEGISLATIVE COUNSEL’S DIGEST

AB 2174, as amended, Committee on Accountability and Administrative Review. State property: surplus.

Existing law authorizes the Director of General Services to dispose of state surplus property, subject to specified conditions, including authorization by the Legislature. The California Constitution provides that the proceeds from the sale of surplus state property be used to pay the principal and interest on bonds issued pursuant to the Economic Recovery Bond Act until the principal and interest on those bonds are fully paid, after which these proceeds are required to be deposited into the Special Fund for Economic Uncertainties. Existing statutory law similarly requires that the net proceeds received from any real property disposition be paid into the Deficit Recovery Bond Retirement Sinking Fund Subaccount, a continuously appropriated fund, until the bonds issued pursuant to the act are retired.

This bill would begin delete state the intent of the Legislature to enact legislation to end delete authorize the director to dispose of begin insert specified end insert parcels of surplus state property. begin insert By increasing the amount transferred into a continuously appropriated fund, this bill would make an appropriation. end insert

Vote: majority. Appropriation:  begin delete no end delete begin insert yes end insert . Fiscal committee:  begin delete no end delete begin insert yes end insert . State-mandated local program: no.

The people of the State of California do enact as follows:

SECTION 1.  

(a)  begin delete It is the intent of the Legislature to enact
legislation to authorize the end delete begin insert The end insert Director of General Services begin delete to end delete
begin insert may end insert sell, exchange, sell combined with an exchange, or lease for
fair market value, upon those terms and conditions as the Director
of General Services determines are in the best interests of the state,
all or any part of the following real property pursuant to Section
11011.1 of the Government begin delete Code. end delete begin insert Code: end insert

begin insert

(1) Parcel 1, consisting of approximately 0.434 acres and
improvements, known as the Employment Development Department
parking lot located at 850 Turk Street in San Francisco, San
Francisco County Assessor Parcel Number 0744-006.

end insert begin insert

(2) Parcel 2, consisting of three parcels of approximately 0.29
acres and improvements, known as the Employment Development
Department parking lot located at 700 Golden Gate Avenue in
San Francisco, San Francisco County Assessor Parcel Numbers
0761-002, 0761-003, and 0761-022.

end insert begin insert

(3) Parcel 3, consisting of approximately 1.5 acres and
improvements, known as the Department of General Services’
Bercut Drive Building, located at 570 Bercut Drive, in Sacramento,
Sacramento County.

end insert

(b) To the extent bonds issued by the State Public Works Board
involve the property to be sold pursuant to this section, all issuer-
and trustee-related costs associated with the review of any proposed
sale, together with the costs related to the defeasance or retirement
of any bonds, which may include the cost of nationally recognized
bond counsel, shall be paid from the proceeds of any sale or lease
authorized by this section.