State property: 32nd District Agricultural Association.

Existing law divides the state into agricultural districts within the boundaries of which agricultural associations may be formed. Existing law provides that District 32 is the County of Orange. Existing law creates District 32a which consists of all that real property that is a portion of District 32 that is commonly known as the Orange County Fair and authorizes the Department of General Services to sell all or any portion of the real property that composes District 32a pursuant to a public bidding process. This bill would authorize the Board of Directors of the Orange County Fair, or an agent of that entity, as specified, to enter into a revenue sharing plan with the state regarding property of the Orange County Fair, as specified, if the plan would generate an amount in excess of $100,000,000 for the state over a period not to exceed 40 years from the initial date of the agreement. The bill would also require, not less than 30 days prior to entering into that agreement, the Director of General Services to submit the complete terms of the agreement to the Joint Legislative Budget Committee.