Gov. Gavin Newsom reached an agreement with the state’s largest teachers’ union May 28 that would provide public schools more funding for the future after the union threatened legal action and launched an ad campaign against the governor.

Mr. Newsom’s previous plan would have lowered the amount of money guaranteed to schools by an estimated $12 billion over two years to help close a $44.9 billion state budget deficit.

In the new agreement, the state will take out a reduced $6.2 billion loan from itself to cover previous school spending above the guarantee, down from Mr. Newsom’s initial proposal, and add $5.5 billion for schools over the next several years.

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