This division shall be known and may be cited as the School Land Bank Act.
Chapter 1School Land Bank Act
Section § 8700
This section states that this collection of laws is called the School Land Bank Act.
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Section § 8701
This law outlines the state's approach to managing school lands. Due to past depletion of these lands, it's crucial to manage the remaining ones to support public schools financially. The commission is responsible for planning and executing transactions like exchanges and sales to boost revenue from these lands. The goal is to develop these lands, including any mineral interests, into a sustainable resource. The law emphasizes that land use decisions should be based on fair market value. Lastly, the consolidation of school land parcels into larger, contiguous areas is important for effective management, and acquiring land through exchange or purchase is vital for this process.
The Legislature finds and declares as follows:
(a)CA Public Resources Code § 8701(a) Past policies of the state have resulted in significant depletion of the inventory of lands granted by the federal government to provide fiscal support for the public school system.
(b)CA Public Resources Code § 8701(b) It is essential that all remaining school lands and attendant interests be managed and enhanced to provide an economic base for support of the public school system.
(c)CA Public Resources Code § 8701(c) The commission shall plan and implement all transactions, including exchanges, sales, and acquisitions which would facilitate the management of school land interests for revenue generating purposes.
(d)CA Public Resources Code § 8701(d) The state, through the commission, shall take all action necessary to fully develop school lands, indemnity interests, and attendant mineral interests into a permanent and productive resource base.
(e)CA Public Resources Code § 8701(e) It is in the best interest of the state that school lands be managed as a revenue source and it is the intent of the Legislature that fair market value be a primary criterion in determining if proposed uses or dispositions of land should be approved.
(f)CA Public Resources Code § 8701(f) The consolidation of school land parcels into contiguous holdings is essential to sound and effective management and the power to acquire lands by exchange or purchase is elemental to the consolidation process.
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Section § 8702
This section of California law provides definitions for terms used in a specific part of the Public Resources Code. It explains that 'Commission' refers to the State Lands Commission and 'Fund' means the School Land Bank Fund. 'School land' is land given to the state by Congress in 1853 to support public schools. Lastly, 'Trustee' is the role of the State Lands Commission in managing the School Land Bank Fund.
Unless the context otherwise requires, the definitions in this section govern the construction of this division.
(a)CA Public Resources Code § 8702(a) “Commission” means the State Lands Commission.
(b)CA Public Resources Code § 8702(b) “Fund” means the School Land Bank Fund.
(c)CA Public Resources Code § 8702(c) “School land” means land or interests in land granted to the state by an Act of Congress March 3, 1853 (Ch. 145, 10 Stat. 244), for the specific purpose of providing support for the public schools.
(d)CA Public Resources Code § 8702(d) “Trustee” means the State Lands Commission acting in its role as trustee for the School Land Bank
Fund.
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Section § 8703
This law states that property acquisitions can happen through negotiated agreements or purchases from property owners. However, it clarifies that it doesn't give any authority to use eminent domain—forcing a sale for public use—even though such power exists elsewhere for the commission.
Acquisitions may be made by negotiated agreement with, or purchase from, the owners of the outstanding interests. Nothing in this division confers any authority to exercise the power of eminent domain for the purposes of this division, although that power is statutorily vested in the commission.
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Section § 8704
This law states that when acquiring property, a trustee should try to obtain mineral and subsurface rights. However, if they can't get those rights, they can still buy the property if they find that the benefits are significant and it's in the state's best interest.
The trustee shall make all reasonable attempts to acquire the mineral and other subsurface rights in any acquisition pursuant to this division. If the trustee is unable to acquire the mineral and other subsurface rights, the trustee may purchase real property upon the trustee expressly finding that the benefits to be derived from the acquisition are substantial and that acquisition of the property without the subsurface rights is in the best interests of the state for the purposes set forth in this division.
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Section § 8705
The trustee is in charge of managing the fund and any real estate purchased under this division. This includes choosing, buying, and transferring the property as laid out in the rules of this division.
The trustee has the exclusive jurisdiction and authority to administer the fund and the interest in real property acquired pursuant to this division, including the selection, acquisition, and conveyance of real property by the trustee as provided in this division.
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Section § 8706
This law explains that if someone transfers land to the state, the state will accept it. After the transfer, the land will be treated as school land. It will be managed under a trust for school purposes by a commission, as described in a different part of the law.
The state, in its sovereign capacity, shall accept any conveyance, and the land shall thereafter be held by the state as land of the legal character of school lands subject to the school land trust under the jurisdiction of the commission pursuant to Division 6 (commencing with Section 6001).
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Section § 8707
This law section states that the commission is responsible for accepting property transfers for the state and ensuring that these transfers are properly acknowledged and recorded.
The commission shall accept the conveyances on the part of the state and shall authorize their acknowledgment and recordation.
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Section § 8708
This law section states that until the money in the fund is used for purchasing as intended by the law, it must be kept in the Pooled Money Investment Fund. Additionally, any interest earned will also be added back into the fund itself.
Until expended for acquisitions in accordance with this division, moneys in the fund shall be deposited in the Pooled Money Investment Fund and the interest deposited in the fund.
Pooled Money Investment Fund fund management interest earnings acquisition funding investment fund interest deposit fund distribution financial management state fund fund utilization
Section § 8709
This law allows additional costs related to buying property, like appraisal fees, escrow costs, broker fees, title insurance, and other related expenses, to be covered by a specific fund. It's not just the purchase price that can be paid from this fund but also these extra expenses.
In addition to the purchase price to be paid, the costs and expenses attributable to the acquisition, including, but not limited to, the fees and expenses of appraisals, escrow, broker’s fees, title insurance, and other third-party costs, may be paid from the fund.
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Section § 8709.5
This law states that the costs associated with managing and cleaning up state school lands can be paid from a specific fund.
Expenses attributable to management and remediation efforts on state school lands are payable from the fund.
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Section § 8710
This law section states that actions under this chapter are not influenced by certain statewide regulations, specifically the California Environmental Quality Act, the Subdivision Map Act, and the Property Acquisition Law. In simpler terms, if you're dealing with matters under this chapter, you don't need to worry about complying with these specific laws.
An action under this chapter is not subject to the California Environmental Quality Act (Division 13 (commencing with Section 21000)), the Subdivision Map Act (Division 2 (commencing with Section 66410) of Title 7 of the Government Code), or the Property Acquisition Law (Part 11 (commencing with Section 15850) of Division 3 of Title 2 of the Government Code).
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Section § 8711
This law establishes the School Land Bank Fund in California's State Treasury. The money in this fund is allocated to the commission, which acts as the School Land Bank Trustee, to spend as needed for specific purposes outlined in this division. The fund's usage is not restricted by fiscal year limitations.
There is in the State Treasury the School Land Bank Fund, which is hereby created. Notwithstanding Section 13340 of the Government Code, all moneys in the fund are appropriated to the commission for expenditure, without regard to fiscal years, for the purposes of this division. When performing the powers and duties set forth in this division, the commission shall be known as the School Land Bank Trustee.
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Section § 8712
This law allows a trustee to buy real estate or interests in real estate to help manage school lands and generate income. It also permits the trustee to let their executive officer make a nonrefundable downpayment on such acquisitions.
The trustee may acquire real property or any interest in real property with the objective of facilitating management of school lands for the purpose of generating revenue. The trustee may delegate authority to the trustee’s executive officer to make a nonrefundable downpayment for a potential acquisition of real property or any interest in real property.
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Section § 8713
This law requires that trustees conduct their actions during open and scheduled public meetings, ensuring transparency. These meetings must follow the rules outlined in Division 6, which relate to commission meetings. Additionally, trustees are allowed to hold their meetings at the same time as commission meetings if needed.
The trustee shall act only at an open, scheduled public meeting, subject to all provisions of Division 6 (commencing with Section 6001) relating to meetings of the commission. The trustee may combine its meeting with the meetings of the commission.
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Section § 8715
This section explains that the rules outlined in this division are not the only ones the commission can follow. The commission can still carry out its other existing responsibilities and powers as allowed by law.
The provisions of this division are not intended as exclusive, and shall not restrict the commission in otherwise meeting any other responsibilities and jurisdiction the commission presently has by law.
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Section § 8716
This law allows a trustee to accept donations of real estate or cash to support the activities outlined in this part of the law.
The trustee may accept gifts of real property or money for the purposes of this division.
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