CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 518Introduced by Committee on Accountability and Administrative ReviewFebruary 13, 2019 An act to amend Section 15854.1 of the Government Code, relating to state government. LEGISLATIVE COUNSEL'S DIGESTAB 518, as introduced, Committee on Accountability and Administrative Review. Surplus property acquisition: agreements: report. Existing law, the Property Acquisition Law, requires that all real property and interests in real property to be acquired by, or for, any state agency, except as specified, be acquired by the State Public Works Board. Existing law allows the State Public Works Board to enter into payment agreements, including agreements that provide for interest payments, with the owner of property to be acquired. This bill would require the State Public Works Board to, by January 1, 2020, and annually thereafter, submit a report to the Legislature describing any payment agreement or interest payment resulting from a property acquisition. Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 15854.1 of the Government Code is amended to read:15854.1. At the request of the owner of property acquired pursuant to this part, the board may enter into an agreement with the owner specifying the manner of payment of compensation to which the owner is entitled as the result of the acquisition. The agreement may provide that the compensation shall be paid by the board to the owner over a period not to exceed 10 years from the date the owners right to compensation accrues. The agreement may also provide for the payment of interest by the board; however, the rate of interest agreed upon may not exceed the maximum rate authorized by Section 16731 or 53531 of the Government Code, as applicable, in connection with the issuance of bonds. The board by January 1, 2021, and annually on January 1, thereafter, shall, submit a report to the Legislature describing any payment agreement or interest payment resulting from the acquisition. The report shall be submitted in compliance with Section 9795.
CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 518Introduced by Committee on Accountability and Administrative ReviewFebruary 13, 2019 An act to amend Section 15854.1 of the Government Code, relating to state government. LEGISLATIVE COUNSEL'S DIGESTAB 518, as introduced, Committee on Accountability and Administrative Review. Surplus property acquisition: agreements: report. Existing law, the Property Acquisition Law, requires that all real property and interests in real property to be acquired by, or for, any state agency, except as specified, be acquired by the State Public Works Board. Existing law allows the State Public Works Board to enter into payment agreements, including agreements that provide for interest payments, with the owner of property to be acquired. This bill would require the State Public Works Board to, by January 1, 2020, and annually thereafter, submit a report to the Legislature describing any payment agreement or interest payment resulting from a property acquisition. Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO
CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION
Assembly Bill No. 518
Introduced by Committee on Accountability and Administrative ReviewFebruary 13, 2019
Introduced by Committee on Accountability and Administrative Review
February 13, 2019
An act to amend Section 15854.1 of the Government Code, relating to state government.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 518, as introduced, Committee on Accountability and Administrative Review. Surplus property acquisition: agreements: report.
Existing law, the Property Acquisition Law, requires that all real property and interests in real property to be acquired by, or for, any state agency, except as specified, be acquired by the State Public Works Board. Existing law allows the State Public Works Board to enter into payment agreements, including agreements that provide for interest payments, with the owner of property to be acquired. This bill would require the State Public Works Board to, by January 1, 2020, and annually thereafter, submit a report to the Legislature describing any payment agreement or interest payment resulting from a property acquisition.
Existing law, the Property Acquisition Law, requires that all real property and interests in real property to be acquired by, or for, any state agency, except as specified, be acquired by the State Public Works Board. Existing law allows the State Public Works Board to enter into payment agreements, including agreements that provide for interest payments, with the owner of property to be acquired.
This bill would require the State Public Works Board to, by January 1, 2020, and annually thereafter, submit a report to the Legislature describing any payment agreement or interest payment resulting from a property acquisition.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. Section 15854.1 of the Government Code is amended to read:15854.1. At the request of the owner of property acquired pursuant to this part, the board may enter into an agreement with the owner specifying the manner of payment of compensation to which the owner is entitled as the result of the acquisition. The agreement may provide that the compensation shall be paid by the board to the owner over a period not to exceed 10 years from the date the owners right to compensation accrues. The agreement may also provide for the payment of interest by the board; however, the rate of interest agreed upon may not exceed the maximum rate authorized by Section 16731 or 53531 of the Government Code, as applicable, in connection with the issuance of bonds. The board by January 1, 2021, and annually on January 1, thereafter, shall, submit a report to the Legislature describing any payment agreement or interest payment resulting from the acquisition. The report shall be submitted in compliance with Section 9795.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. Section 15854.1 of the Government Code is amended to read:15854.1. At the request of the owner of property acquired pursuant to this part, the board may enter into an agreement with the owner specifying the manner of payment of compensation to which the owner is entitled as the result of the acquisition. The agreement may provide that the compensation shall be paid by the board to the owner over a period not to exceed 10 years from the date the owners right to compensation accrues. The agreement may also provide for the payment of interest by the board; however, the rate of interest agreed upon may not exceed the maximum rate authorized by Section 16731 or 53531 of the Government Code, as applicable, in connection with the issuance of bonds. The board by January 1, 2021, and annually on January 1, thereafter, shall, submit a report to the Legislature describing any payment agreement or interest payment resulting from the acquisition. The report shall be submitted in compliance with Section 9795.
SECTION 1. Section 15854.1 of the Government Code is amended to read:
### SECTION 1.
15854.1. At the request of the owner of property acquired pursuant to this part, the board may enter into an agreement with the owner specifying the manner of payment of compensation to which the owner is entitled as the result of the acquisition. The agreement may provide that the compensation shall be paid by the board to the owner over a period not to exceed 10 years from the date the owners right to compensation accrues. The agreement may also provide for the payment of interest by the board; however, the rate of interest agreed upon may not exceed the maximum rate authorized by Section 16731 or 53531 of the Government Code, as applicable, in connection with the issuance of bonds. The board by January 1, 2021, and annually on January 1, thereafter, shall, submit a report to the Legislature describing any payment agreement or interest payment resulting from the acquisition. The report shall be submitted in compliance with Section 9795.
15854.1. At the request of the owner of property acquired pursuant to this part, the board may enter into an agreement with the owner specifying the manner of payment of compensation to which the owner is entitled as the result of the acquisition. The agreement may provide that the compensation shall be paid by the board to the owner over a period not to exceed 10 years from the date the owners right to compensation accrues. The agreement may also provide for the payment of interest by the board; however, the rate of interest agreed upon may not exceed the maximum rate authorized by Section 16731 or 53531 of the Government Code, as applicable, in connection with the issuance of bonds. The board by January 1, 2021, and annually on January 1, thereafter, shall, submit a report to the Legislature describing any payment agreement or interest payment resulting from the acquisition. The report shall be submitted in compliance with Section 9795.
15854.1. At the request of the owner of property acquired pursuant to this part, the board may enter into an agreement with the owner specifying the manner of payment of compensation to which the owner is entitled as the result of the acquisition. The agreement may provide that the compensation shall be paid by the board to the owner over a period not to exceed 10 years from the date the owners right to compensation accrues. The agreement may also provide for the payment of interest by the board; however, the rate of interest agreed upon may not exceed the maximum rate authorized by Section 16731 or 53531 of the Government Code, as applicable, in connection with the issuance of bonds. The board by January 1, 2021, and annually on January 1, thereafter, shall, submit a report to the Legislature describing any payment agreement or interest payment resulting from the acquisition. The report shall be submitted in compliance with Section 9795.
15854.1. At the request of the owner of property acquired pursuant to this part, the board may enter into an agreement with the owner specifying the manner of payment of compensation to which the owner is entitled as the result of the acquisition. The agreement may provide that the compensation shall be paid by the board to the owner over a period not to exceed 10 years from the date the owners right to compensation accrues. The agreement may also provide for the payment of interest by the board; however, the rate of interest agreed upon may not exceed the maximum rate authorized by Section 16731 or 53531 of the Government Code, as applicable, in connection with the issuance of bonds. The board by January 1, 2021, and annually on January 1, thereafter, shall, submit a report to the Legislature describing any payment agreement or interest payment resulting from the acquisition. The report shall be submitted in compliance with Section 9795.