Newsom Signs Budget Package With Film, Manufacturing Tax Breaks

California Gov. Gavin Newsom signed a package of bills Monday enacting the budget for the new fiscal year, including tax breaks for the entertainment and manufacturing industries and tighter rules for a specific type of trust.

The Democratic governor signed a main spending bill (A.B. 102), adding to one he signed June 27 (S.B. 101) and another he signed June 30 (A.B. 103). He also signed nearly two dozen so-called trailer bills that make statutory changes needed to carry out the spending. The new fiscal year starts July 1. Overall, the budget ...