CaliforniaProposition 38

Proposition 38

California · November 3, 2026

Issue $8.4 billion in general obligation bonds to fund immunology and immunotherapy research

A yes vote means California borrows $8.4 billion and uses it to fund immunology and immunotherapy research projects.
A no vote means California does not borrow this money and does not fund these research projects through this bond measure.
Simple explanation
California wants to borrow $8.4 billion to pay for research into how our immune system works and how to use that knowledge to treat diseases. Think of it like taking out a loan to invest in a medical research project — the state borrows money now, pays it back over time with tax revenue, and hopes the research leads to new treatments.

Source: Ballotpedia

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