BILL NUMBER:  AB 151
  VETOED	DATE: 09/23/2010




To the Members of the California State Assembly:

I am returning Assembly Bill 151 without my signature.

While I am sympathetic with this bill's objective of ultimately
locating most or all Board of Equalization (BOE) headquarters units
in a single location, the fiscal condition of the state precludes
relocating BOE's headquarters or field offices for the foreseeable
future.

Permanently relocating the BOE headquarters would result in costs
exceeding $100 million.  Furthermore, this bill would complicate the
sale of bonds to retire the existing Pooled Money Investment Board
loan on the property, resulting in additional costs to the state.

Lastly, this bill would unacceptably remove all Administration
oversight from BOE's real estate transactions, and would require BOE
to develop and maintain a separate competency in that field.  Those
activities would redirect resources and focus from BOE's core mission
as a revenue agency.

For these reasons, I am unable to sign this bill.

Sincerely,



Arnold Schwarzenegger