CA SB1504

Changes interest accrual on claims approved by the California Victim Compensation and Government Claims Board from 30 days to 180 days after the effective date of the appropriation act.

Removes the previous provision allowing interest accrual 30 days after a claimant accepts a claim settlement and deletes the ability to vary interest terms by written agreement.

Establishes that interest on judgments or settlements for payment of money against the state commences 180 days from the date of final judgment or settlement, excluding claims approved by the Victim Compensation and Government Claims Board.

Updates reporting requirements to direct the Attorney General to report unpaid claims, settlements, and judgments to the chairperson of either the Senate Committee on Appropriations or the Assembly Committee on Appropriations (rather than the Assembly Committee on Budget).

Takes effect immediately as an urgency statute to apply to the 2012-13 fiscal year.