Governor Gavin Newsom signed a $308 billion state budget and several budget trailer bills this week, and the Legislature began its month-long summer recess.
The Senate Governance and Finance Committee voted unanimously June 29 to approve AB 1951 (Grayson), a bill co-sponsored by CalTax and the California Manufacturers and Technology Association (CMTA) to provide a full sales and use tax exemption for manufacturing and research-and-development equipment purchases up to $200 million.
The assessed value of property in Santa Clara County increased 7.46 percent this year and reached a record-high $619.9 billion, Santa Clara County Assessor Larry Stone reported this morning.
