Newsom Signs SB 694 to Protect Veterans, Announces $20,000 State Tax Credit
California Governor Gavin Newsom has signed Senate Bill 694 into law, a measure aimed at protecting veterans and active service members from fraud while providing them with additional financial relief.
Announcing the development, Newsom said the new legislation is designed to safeguard those who have served the country and ensure they retain more of their earnings. According to him, the bill introduces stronger protections against exploitation and creates a new financial benefit for veterans across the state.
“Today, I signed SB 694 to protect veterans and service members from fraud,” the governor stated.
He explained that the initiative is part of broader efforts to support former and serving military personnel, noting that the law will help reduce financial vulnerability and increase economic stability among veterans.
“We’re helping vets keep more money in their pockets — including a new $20,000 state income tax credit,” Newsom added.
The new tax credit is expected to ease the financial burden on eligible veterans, while the anti-fraud provisions are aimed at preventing deceptive practices that often target service members and their families. The move has been framed as a significant step toward honoring military service with tangible economic support and stronger legal protections.
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