State real property: disposition.

(1) Existing law provides that the Director of General Services may acquire and dispose of surplus state real property where that property is not needed by another state agency and the Legislature has authorized disposal of the property. Existing law also specifies the manner in which the department is to dispose of surplus state real property. This bill would authorize the director to dispose of a specified parcel of state property, known as the California Highway Patrol field office located at 3330 North Ad Art Road, in Stockton, pursuant to these provisions. (2) Existing law authorizes the Director of General Services to sell, exchange, sell combined with an exchange, or lease for fair market value, upon those terms and conditions as the director determines are in the best interests of the state, all or any part of a parcel consisting of approximately 0.90 acres and improvements, known as the Employment Development Department's Vallejo Office Building, located at 1440 Marin Street, in Vallejo, Solano County. This bill would rescind that authority. (3) The California Constitution requires 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, the final payment of which was made in the 2015–16 fiscal year, after which these proceeds are required to be deposited into the Special Fund for Economic Uncertainties, a continuously appropriated fund. By increasing the amount transferred into the Special Fund for Economic Uncertainties, a continuously appropriated fund, this bill would make an appropriation.