Bill > AB982

This bill repeals and reenacts Division 7.7 of the Public Resources Code, establishing the "School Land Bank Act" to manage and enhance remaining state school lands, originally granted by the federal government to support public schools, for revenue generation. The State Lands Commission, acting as the "School Land Bank Trustee," is empowered to acquire, manage, and convey these lands and their interests, including mineral rights, through negotiated agreements or purchases, with the goal of consolidating parcels for more effective management and revenue production. A key provision allows for land exchanges, particularly within the California desert, with the U.S. Secretary of the Interior to consolidate school land parcels into contiguous holdings suitable for large-scale renewable energy projects, aiming to benefit the State Teachers' Retirement Fund (STRS) and promote clean energy development while protecting the environment. The bill also establishes the School Land Bank Fund to cover acquisition and management costs, and exempts actions under this chapter from certain environmental and land use review laws.