Sen. Carol Liu (D-La Cañada Flintridge) introduced legislation Thursday she contends that, had been in place during fiscal year 2010-11, would have resulted in about $3.5 million in additional funds for local governments in California.
The bill, sponsored by state Controller John Chiang, would help cities and counties collect money that they are owed. Chiang’s office would be able to offset funds that a person or business owes to local governments when they file a claim for unclaimed financial accounts through the state’s program that tracks those accounts.
Currently, the state controller’s office can enter into agreements only with state agencies to recoup any outstanding back taxes and unpaid fees through the unclaimed property program.
“As a former mayor and city council member, I know that every dollar counts when local budgets are stretched thin,” said Liu in a statement. “This bill gives one more tool for local governments to collect money those agencies are owed."
-- Mark Kellam, Times Community News
Photo: State Sen. Carol Liu speaks at a rally, which discussed the concerns of what students, teachers, and faculty are facing at schools and in education. Credit: Times Community News