Today the Assembly Business and Professions Committee on a unanimous vote approved Assemblyman Joel Anderson’s AB 1506, which allows someone who has been issued IOU’s from the state, but owes the state money (DMV fees, taxes, etc.) to be able to use those IOU’s to pay the state.
Of course this common-sense legislation has a lot of hurdles to go before becoming law, but this is a good first step. Next stop: Assembly Appropriations Committee.
Read more about the legislation here.
July 7th, 2009 at 12:00 am
I just talked to Assemblyman Anderson. He repeated his overall message from his FR mainpage column this morning:
“If California won’t accept it’s own IOU, then no one will accept it. My bill will allow taxpayers to to tell the state’s left hand to pay it’s right hand.”
July 7th, 2009 at 12:00 am
Congratulations Joel. The Franchise Tax Board just announced that they will accept IOUs and I am still pushing for BOE to do the same.