California Legislators and Governor Arnold Schwarzenegger reached deal a Monday evening on steps to close California’s $26 billion budget hole. According to the limited reports available at this time, no tax increases were involved. There are, however, very large budget cuts to various state social services, education, and corrections.
I found a few articles this morning discussing the proposed budget. The most detailed is this one from the Silicon Valley Mercury News. Some others, see Sacramento Bee and Reuters Blog.
So far, I see no mention of cuts to the California enterprise zone program or to other tax incentive programs aimed at attracting employers to California. A vote on the budget is expected this Thursday. In the mean time, more details will likely be made available.