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California will begin to pay off the IOUs it's issued soon
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California will begin to pay off the IOUs it's issued soon
State controller John Chiang told KPCC’s "Patt Morrison" why his office is making the payoffs a priority.
If the state of California has issued you an IOU in the last couple of months, you’ll be able to redeem it soon – for cash.
State controller John Chiang told KPCC’s "Patt Morrison" why his office is making the payoffs a priority.
John Chiang: "We wanted to make sure that the small businesses, the taxpayers, the aged, the blind, the disabled who involuntarily had to take IOU's get their payments. These are the people who struggled because the state was unable to balance its budget."
IOU holders may redeem them by mail to the state treasurer or in person at their local branch of that office.
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