"I would love to stay in the Legislature. That is what I would love to do. I'm just not allowed to do it under the law," Pérez said in a public conversation today with Mark Baldassare, president of the Public Policy Institute of California.
He went on to say that enacting term limits is "one of the most negative decisions the voters have made."
"It has hurt us as a state," Pérez said.
Pérez said he "may very well not run for another office for a while" because he is termed out of the Assembly and the Senate seat representing his Los Angeles district is filled.
"There's nothing that's really out there," he said.
"I want to do something where I can still be engaged in public policy discussions. But I also want to do something where I still interact with other folks that I enjoy. The greatest enjoyment I get is working with students, whether K-12 students or university students. So I want to do something where I can interact with students."