California AB2640 amends the Government Code to adjust interest rates on overpaid claims and mandates audits for reimbursement claims.

California AB2640 amends Section 17558.5 of the Government Code to set the interest rate charged by the Controller on reduced claims at the Pooled Money Investment Account rate. This rate applies from the time the claim was paid until the overpayment is satisfied. The bill also mandates that an audit must be completed within two years of its commencement. Additionally, it allows the Controller to conduct a field review of any claim before reimbursement.

California AB2640 amends the Government Code to adjust interest rates on overpaid claims and mandates audits for reimbursement claims.

California AB2640 amends Section 17558.5 of the Government Code to set the interest rate charged by the Controller on reduced claims at the Pooled Money Investment Account rate. This rate applies from the time the claim was paid until the overpayment is satisfied. The bill also mandates that an audit must be completed within two years of its commencement. Additionally, it allows the Controller to conduct a field review of any claim before reimbursement.