BILL NUMBER: AB 2174 AMENDED BILL TEXT AMENDED IN ASSEMBLY MARCH 28, 2014 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 statepropertyproperty, and making an appropriation therefor . 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 wouldstate the intent of the Legislature to enact legislation toauthorize the director to dispose of specified parcels of surplus state property. By increasing the amount transferred into a continuously appropriated fund, this bill would make an appropriation. Vote: majority. Appropriation:noyes . Fiscal committee:noyes . State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. (a)It is the intent of the Legislature to enact legislation to authorize theThe Director of General Servicestomay 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 GovernmentCode.Code: (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. (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. (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. (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.