Hagman co-authors legislation to ease IOU burden
Assemblyman
Curt Hagman has co-authored legislation intended to allow the
recipients of IOUs from the state of California to use the warrants as
payment for state services.
Assembly Bill 1506 would require state agencies to accept, from any person, a registered warrant -- commonly known as an IOU -- endorsed by that person, at full face value, for the payment of any obligations owed by that person to that state agency, according to a news release from Hagman's office.
"If IOUs are going to be issued by the state, the state should take them as payments," Hagman said.
Hagman is a Republican who represents the 60th District, which includes San Dimas, Diamond Bar, Walnut and Chino Hills.
Assembly Bill 1506 would require state agencies to accept, from any person, a registered warrant -- commonly known as an IOU -- endorsed by that person, at full face value, for the payment of any obligations owed by that person to that state agency, according to a news release from Hagman's office.
"If IOUs are going to be issued by the state, the state should take them as payments," Hagman said.
Hagman is a Republican who represents the 60th District, which includes San Dimas, Diamond Bar, Walnut and Chino Hills.
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