SB 415

Bill Subjects

Abstract

Existing law creates the High-Speed Rail Authority with specified powers and duties relative to development and implementation of a high-speed train system, including the acquisition of property necessary for rights-of-way and the disposal of acquired property no longer necessary for that purpose. This bill would require the authority to make a good faith effort to sell or exchange real property or an interest in real property acquired by the state for high-speed rail purposes on or after January 1, 2018, within 3 years from the date of acquisition if the authority has not begun construction on the property or interest in the property within that 3-year period. For real property or an interest in real property acquired before January 1, 2018, the bill would require the authority to dispose of the property on or before January 1, 2021, or, for property subject to a lease as of January 1, 2018, within 3 years of the expiration of the lease, if the authority has not begun construction during those 3-year periods.