This report summarizes the fiscal effect of the 1990 Budget Act (Chapter 467 -SB 899) including the effects of major legislation accompanying the budget which is part of the overall state spending plan for 1990-91. The report begins by recounting the history of this year's budget crisis, and describing how it was resolved. It then highlights the funding levels that were ultimately approved for the state's major programs in 1990-91. Finally, this report discusses projected state revenues for 1990-91, including the key assumptions underlying the projections and revisions that have been made to them since the Governor's Budget was introduced in January.