California Converts Recycling Funds

The California Chamber of Commerce is asking the state to give back the $480 million it took from the Beverage Container Recycling fund as a "loan" to help California cover its bills, according to Courthouse News Service.

And apparently this is not the first time the state has swindled these funds. Since 2003, more than $560 million has been transferred from the recycling fund into the general fund as "loans" that were supposed to be paid back. The recycle fund is partly used to pay people who return empty bottles as well as helping to cover the cost of collecting and sorting bottles and containers. However, the money was never repaid, and by June the recycling fund will be $160 million in the red.

As a result, the processing fees for glass and plastic shot up by more than 700 percent for the beverage manufacturers who have to pay a processing fee on certain beverage containers sold in the state.

The Chamber is asking the state controller to repay the outstanding loan.

Good luck with that.

Source: Courthhouse News Service