[p2p-research] Fwd: California IOU's

[Michel Bauwens]

---------- Forwarded message ----------
From: Dante-Gabryell Monson <dante.monson at gmail.com>
Date: Tue, Sep 15, 2009 at 6:59 PM
Subject: California IOU's
To: Michel Bauwens <michelsub2004 at gmail.com>, "Paul D. Fernhout" <
pdfernhout at kurtz-fernhout.com>


 Bill would allow IOUs to be used to pay state
http://www3.signonsandiego.com/stories/2009/jul/08/bill-would-allow-ious-be-used-pay-state/?california&zIndex=128426

excerpts:

SACRAMENTO July 8, 2009 — Republicans and Democrats alike embraced
legislation yesterday that would make California IOUs legal tender for all
taxes, fees and other payments owed to the state. // The state started
issuing IOUs, formally known as registered warrants, on Thursday after
lawmakers and the governor failed to agree on a package of spending cuts and
other measures to close a budget deficit that since has grown to $26.3
billion. // Anderson's legislation simply declares the state must accept its
IOUs as payment for any taxes, fees or other payments owed to the state. The
state already accepts its IOUs for payment of income taxes. The state
Franchise Tax Board reiterated that yesterday and said it will also accept
IOUs for corporate taxes.



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