CA AB2620

Establishes legislative findings that local trustees of granted public trust lands (tidelands and submerged lands) must manage these state assets according to fiduciary duties and the public trust doctrine for commerce, navigation, and fisheries.

Requires local trustees to maintain separate accounting records for trust revenues and expenditures, segregate trust funds from non-trust funds, and file annual detailed statements with the State Lands Commission using a standardized reporting form by October 1 each year.

Makes all submitted forms and statements public records available on the State Lands Commission's website to ensure transparency in how granted public trust lands revenues are used.

Permits costs of implementation to be paid from revenues derived from the granted public trust lands themselves; allows the State Lands Commission to exempt local trustees lacking sufficient revenues from compliance.

Requires the State Lands Commission to prepare a workload analysis by September 1, 2013 describing resources needed to oversee granted public trust lands, with the reporting requirement expiring January 1, 2018.