AB 982 Summary

• Requires the State Lands Commission to enter into a memorandum of agreement by April 1, 2012 with the U.S. Secretary of the Interior to facilitate land exchanges consolidating school land parcels into contiguous holdings suitable for large-scale renewable energy projects in the California Desert.

• Mandates the Commission submit a land exchange proposal within 240 days of the memorandum execution, based on acre-for-acre exchanges or equivalent appraised values, prioritizing parcels suitable for renewable energy development.

• Requires the Commission to report annually by January 1 to the Legislature on the status of the memorandum of agreement and school land consolidation efforts for renewable energy projects.

• Allows the Commission to withhold parcels from exchange if acre-for-acre terms would not provide fair market value compensation, including consideration of renewable energy potential.

• Permits revenues from renewable energy leases to be appropriated by the Legislature to cover the Commission's costs attributable to the land exchange process.