CA AB1963

Extends the deadline for Department of Finance approval of long-range property management plans for successor agencies from January 1, 2015 to January 1, 2016, after which property disposition requirements become operative.

Repeals Section 34178.8 of the Health and Safety Code, which required the Controller to review successor agency asset transfers and order returns of assets not made pursuant to enforceable obligations on an approved Recognized Obligation Payment Schedule.

Suspends requirements for successor agencies to dispose of real property assets, except for transfers for governmental use, until the Department of Finance approves a long-range property management plan.

Takes effect immediately as an urgency statute to prevent "fire sale" of property and allow successor agencies to receive timely approval of long-range property management plans.