
IOU Bill Faces Committee Vote Today
Excerpted from the Assemblyman Anderson release….
The eyes of California Taxpayers will be focused squarely on the Assembly Appropriations Committee today, as Assembly Bill 1506 approaches a critical deadline … authored by Assemblyman Joel Anderson, (the bill) requires the State to accept its own IOUs as payment for taxes and fees.
Last week, AB 1506 was not allowed to come up for a vote, despite the fact that a majority of the committee’s members were co-authors of the bill. Committee Chairman Kevin De León denied Anderson’s bill a vote and sent it to the “Suspense File” – a place where bills typically go to die without a vote.
Yesterday, Assemblyman Anderson delivered more than 1,500 letters of support for AB 1506 to Chairman De León. Anderson’s office received the letters from labor unions, taxpayers, small businesses, charities, local government agencies, healthcare facilities and business leaders. California State Controller John Chiang also supports the bill.
The State has issued nearly $2 billion in IOUs since July 1st. The Controller expects to begin redeeming IOUs in early September,… Read More