CA AB181

Creates District 22a consisting of state-owned real property including the Del Mar Race Track and Fairgrounds in the City of Del Mar and four parcels in San Diego, to be separated from District 22.

Authorizes the Department of General Services to sell all District 22a property and related personal property to the City of Del Mar for $120,000,000 or fair market value, with net proceeds deposited into the District 22a Disposition Fund.

Requires the City of Del Mar to establish a nonprofit corporation with nine board members (including representatives from Del Mar, Solana Beach, San Diego, and San Diego County) to oversee operation and maintenance of the property if the city purchases it.

Allows the City of Del Mar to issue revenue bonds to finance the property purchase, with repayment from revenues generated by the fairgrounds and race track operations.

Abolishes District 22a upon completion of the sale and transfers all funds from the District 22a Disposition Fund to the General Fund for deposit into the Deficit Recovery Bond Retirement Sinking Fund Subaccount.