CA AB1272

Authorizes the Director of General Services to sell, exchange, lease, or sell combined with exchange 6 specified state properties including Employment Development Department offices in Los Angeles and Oroville, Hidden Lakes Estates Parcel in Madera County, and two lookout towers in Tehama County.

Rescind surplus authorization for 2 parcels: the Sutter Hill Forest Fire Station (0.54 acres) in Amador County and the National Guard Armory (5.54 acres) in San Jose, Santa Clara County.

Directs net proceeds from real property dispositions be deposited into the Deficit Recovery Bond Retirement Sinking Fund Subaccount, a continuously appropriated fund, until bonds issued under the Economic Recovery Bond Act are fully retired.

Requires the Director of General Services to sell or lease properties at fair market value under terms and conditions determined to be in the best interests of the state.