Calif. tax refunds and state IOU's (warrants)

It hasn't been "announced", but the California State Controller (the state's CFO) has published remarks on the public web site (link I provided in first message in this thread) that clearly indicated it is under serious consideration as of December 2008. This same official has already butted heads with the Governator over various payment issues during the current budget mess.

Is it probably going to happen? I think not (and as a California taxpayer, hope not!). Is there enough likelihood of it happening that one should not needlessly delay filing for a refund? I think so.

Awareness of the issue among the citizenry is certainly increasing, with comments mostly along the lines of "I guess this means I can pay them with IOU's too!" (or something more pithy).

-Mark Bole