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Daily Tax Report: State

California Governor Still Pushing Opportunity Zone Tax Breaks

Jan. 10, 2020, 9:19 PM

California Gov. Gavin Newsom hasn’t given up on convincing lawmakers to enact state-level tax breaks for investments in federal opportunity zones.

The Democrat isn’t including a proposal for state opportunity zones in his new budget plan for the next fiscal year, but said he is still pressing lawmakers on the topic. He might include another try when he revises his budget proposals in May.

“I’m eager to re-engage on this,” he said at a Friday news conference on his budget plan for the next fiscal year.

Last year, Newsom wanted lawmakers to conform narrowly to the federal opportunity zone program,...

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