BILL NUMBER: AB 1506	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Anderson

                        FEBRUARY 27, 2009

   An act to add Section 17203.6 to the Government Code, relating to
state funds, and declaring the urgency thereof, to take effect
immediately.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 1506, as introduced, Anderson. State funds: registered
warrants.
   Existing law prescribes procedures for the issuance of registered
warrants and provides that a registered warrant is acceptable and may
be used as security for the performance of any public or private
trust or obligation.
   This bill would require a state agency to accept, from any person,
a registered warrant endorsed by that person, at full face value,
for the payment of any obligations owed by that person to that state
agency.
   This bill would declare that it is to take effect immediately as
an urgency statute.
   Vote: 2/3. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 17203.6 is added to the Government Code, to
read:
   17203.6.  A state agency shall accept from any person a registered
warrant endorsed by that person, at full face value, for the payment
of any obligations owed by that person to that state agency.
  SEC. 2.  This act is an urgency statute necessary for the immediate
preservation of the public peace, health, or safety within the
meaning of Article IV of the Constitution and shall go into immediate
effect. The facts constituting the necessity are:
   In order to allow the state's residents to pay for all obligations
owed to the state, while the state is issuing registered warrants,
which is, in fact an "IOU" issued by the state, it is necessary that
this act take effect immediately.