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SB 506: Registered Warrants and Tax Liability (2011)


Senate Bill 506 updates current law that relates to the use of registered warrants issued by California to be used to offset tax liability. Since the statute was created, financial institutions now physically hold bonds on behalf of investors.  This bill allows the beneficial owner of a bond to use a registered warrant to offset their tax liability. 

After the bill passed the Legislature, Senator Simitian sent a letter to the Governor urging his signature.

Final Status and Text

SB 506 is no longer active. Its final status was:
Signed into Law

You can read its final text on the Legislature's Bill Information site.

News & Press Releases about SB 506

12/27/2011 - Simitian Bills Become Law on January 1

09/21/2011 - Simitian Bill to Spur Investment in California Bonds Signed by Governor