Statewide ballot measure · Tuesday, November 3, 2026
Proposition 38: Authorizes Bonds for Immunology Medical Research. Initiative Statute.
Authorizes $8.4 billion in general obligation bonds for immunology and immunotherapy research, half to a single University of California-affiliated nonprofit medical research institute, half to research grants. Fiscal Impact: Increased state cost of $500 million to $600 million annually for about 20 years to repay the research bond, with some or all of the cost offset if the funded research generates revenue.
What a vote means
- A yes vote
- A YES vote on this measure means: The state could borrow $8.4 billion to support medical research in immunology and immunotherapy conducted by California research institutes and universities.
- A no vote
- A NO vote on this measure means: The state could not borrow $8.4 billion to support medical research in immunology and immunotherapy conducted by California research institutes and universities.
Sources
Measure summary
- Official Voter Information Guide, Proposition 38 (California Secretary of State, Public record)
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