State property.

(1) Existing law requires the Department of General Services to maintain an inventory of real property held by the state, and prescribes the disposition of surplus state property. This bill would require the department to identify not less than $1,000,000,000 worth of state property that can be sold immediately to pay for the retirement of outstanding general obligation bonds issued by the state, thereby helping to close the state's budget deficit. State agencies and departments that would be affected by the sale of land or structures would be required to determine the costs and benefits of leasing back their existing space or finding new space. (2) This bill would declare that it is to take effect immediately as an urgency statute.