News - National
California Assembly wants to review sale of buildings
Posted: Jun 3, 2010 5:27 PM by Greg Boyce
Updated: Jun 3, 2010 5:27 PM
The California State Assembly has passed a bill requiring legislative approval before Gov. Arnold Schwarzenegger can sell two dozen state office buildings.
The bill passed 58-0 Thursday on a bipartisan vote. It also would require the administration to perform a 50-year cost-benefit analysis of the plan to sell state-owned buildings and rent space back at market rates. Democratic Assemblyman Hector De La Torre of South Gate says the bill doesn't stop the sale. Rather, it gives lawmakers a chance to make sure it's in the best interest of the state.
Schwarzenegger is counting on the sale to help fill the state's $19 billion budget deficit. Budget analysts say it appears the sale would cost taxpayers more money in the long run.
The bill now moves to the state Senate.
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