$50 Million in California IOUs Still Uncashed

Thousands of people and businesses have somehow forgotten that the state owes them money.

By Olsen Ebright
|  Sunday, Jan 17, 2010  |  Updated 1:50 PM PDT
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$50 Million in California IOUs Still Uncashed

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Thousands of IOUs have yet to be cashed in.

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If the holidays have left you cash-strapped, you may want to check your couch cushions for IOUs.

According to the State Controller's office, about $50 million has yet to be claimed.

On Friday, officials started sending out letters to an estimated 89,000 individuals and businesses reminding them to redeem those Registered Warrants.

The State Treasurer began redeeming the IOUs on Sept. 4. Registered-warrant holders can redeem their IOUs by mailing them to:

915 Capitol Mall, Attention Registered Warrant Desk
Sacramento, CA, 95814

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