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California parents and families should invest their tax refunds in their children by using the state’s college savings program, ScholarShare.

“Many Californians will find themselves with a little extra income this spring,” said Lockyer. “Putting a tax refund into a ScholarShare account gives parents and families the opportunity to make an investment in their children’s future and is a smart financial move. Higher education costs continue to rise and so does the importance of obtaining a college degree, making saving early for college all the more vital.”

For more details:

• Treasurer Lockyer, Schools Superintendent O’Connell Urge Families to Invest Tax Refunds in College Savings Plan for Children
  April 14, 2008

Moody's proposal to change its system for rating municipal bonds is a good first step to a fairer shake for taxpayers, but it's only an interim measure and must be implemented in a way that provides clarity for investors and does not require issuers to pay additional fees.

"The current system for rating municipal bonds imposes substantial, unwarranted costs on taxpayers and hobbles investors with an incomprehensible system for assessing the credit risks of alternative fixed income investments," said Treasurer Lockyer in comments submitted to Moody's on the proposed change.

For more details:

• RE: Request for Comment: Assignment of Global Ratings to Tax-Exempt Municipal Obligations
  April 2, 2008

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To learn more about California bonds and how to purchase them, visit Buy California Bonds.