Does California owe you money?

January 14, 2010

More than 89,000 California residents and businesses are currently sitting on an estimated $50 million in uncashed I.O.U’s.  [New York Times]

The state issued about 450,000 I.O.U.’s, valued at roughly $2.6 billion, to taxpayers, vendors, and contractors last July during the budget crunch. Officials began redeeming the I.O.U.’s in September as new money rolled in, but some Californians have apparently fallen through the cracks.

State Controller John Chiang pledged this week to track down every one of the non-redeemers. “We have your money,” he said. “Ask for it. We want to give it to you.”


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