CA AB1164

Authorizes the Director of General Services to sell, exchange, lease, or sell combined with exchange the San Diego State Office Building (approximately 2.7 acres at 1350 Front Street, San Diego) at fair market value pursuant to Government Code Section 11011.1.

Requires the State Public Works Board to approve any transaction involving the property if State Public Works Board bonds related to the property remain outstanding at the time of execution.

Mandates that all costs associated with bond defeasance be paid from the proceeds of the transaction.

Directs proceeds from the sale to the Special Fund for Economic Uncertainties (a continuously appropriated fund) after the sale, which constitutes an appropriation under the California Constitution.

Approved by Governor October 12, 2019.