Thank you for that quote.
I finally found it in CA Pub 1001 for 2018 -
"California does not tax dividends paid by a fund attributable to interest received from U.S. obligations or California state or municipal obligations IF at least 50% of the fund’s assets would be exempt from California tax when held by an individual."
Is it still true for 2019? I don't know - Pub 1001 for 2019 is still not available, because it is still undergoing updates.
So I imagine the safest course is to assume that it is still true - but to check back at the 1001 to see what it says when the State gets around to finally updating the publication.
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