IOUs

ANDERSON BILL REQUIRING STATE TO TAKE OWN IOU’S AS PAYMENTS PASSES STATE SENATE

 

June 20, 2011 (Sacramento) – Legislation authored by Senator Joel Anderson (R-El Cajon) aimed at protecting taxpayers and businesses from the impacts of state-issued IOUs has been approved by the State Senate.

“What’s good for the goose is good for the gander,” stated Senator Joel Anderson. “Right now, the state IOU process is a forced-borrowing scheme at the expense of the taxpayers. This measure will offer taxpayers protection by forcing the state to accept its own IOU as payment.”