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SB-372 State property: surplus.(2013-2014)

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SB372:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2013–2014 REGULAR SESSION

Senate Bill
No. 372

Introduced by Senator Emmerson

February 20, 2013

An act relating to state property, and making an appropriation therefor.


LEGISLATIVE COUNSEL'S DIGEST


SB 372, as introduced, Emmerson. State property: surplus.
(1) Existing law authorizes the Director of General Services to dispose of state surplus property, subject to specified conditions, including authorization by the Legislature.
This bill would authorize the director to dispose of one specified parcel of state property.
(2) 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.
By increasing the amount transferred into a continuously appropriated fund, this bill would make an appropriation.
Vote: MAJORITY   Appropriation: YES   Fiscal Committee: YES   Local Program: NO  

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


SECTION 1.

 The Director of General Services may 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 Code:
Parcel 1, consisting of approximately 1.33 acres, known as the Patton Water Storage Tanks, located near the corner of Lynwood Drive and North Bangor Avenue, in Patton, San Bernardino County.