Ballot Measures – Paul Nguyen

Statewide ballot measures: what each one does, its fiscal effect and the money raised for and against it.
Prop	What it does	Type	Topic	Fiscal effect	Raised: Yes / No
Prop 1	Lets the state borrow $11.25B for affordable housing, homebuyer aid and veterans' home loans.^S1^S2^S4	Legislative statute	Housing Bonds Budget	$500M to $600M a year for about 25 years^S2^S3	Yes $12.8M No None reported
Prop 2	Requires rainy day fund deposits until it reaches 20% of General Fund taxes; extends extra debt payments.^S1^S2^S3^S4^S9	Legislative constitutional amendment	Budget Taxes Education Health	State budget reserves would be higher^S1^S2^S3^S9	Yes None reported No None reported
Prop 3	Makes the 2012 income tax rates on high earners permanent instead of expiring in 2031.^S1^S3^S6^S7^S10	Initiative constitutional amendment	Taxes Education Health Budget	Keeps $5B to $15B a year in state revenue^S1^S2^S3^S6^S7^S10	Yes $46.3M No $5.5K
Prop 4	Lets state and local governments create public financing programs for election campaigns.^S1^S2^S3^S4^S7	Legislative statute	Elections Local government	A few hundred thousand dollars a year^S1^S2^S3^S4^S5^S6	Yes $235K No None reported
Prop 5	Drops the replacement-candidate question from recalls; vacancies filled by special election or appointment.^S1^S2^S3^S4^S7	Legislative constitutional amendment	Elections Local government	Unknown; possible savings or costs of millions per recall^S1^S2^S3^S4^S6^S11	Yes None reported No None reported
Prop 37	Creates a state mortgage program, up to $25B in bonds, for middle-income buyers of new homes.^S1^S2^S4^S7^S13	Initiative statute	Housing Bonds Property	No direct state or local cost; repaid by homebuyers^S1^S2^S3^S4^S6^S7^S11^S12	Yes $19.6M No None reported
Prop 38	Lets the state borrow $8.4B for immunology and immunotherapy research.^S1^S2^S3^S7^S13	Initiative statute	Health Bonds Budget	$500M to $600M a year for about 20 years^S1^S2^S3^S5^S6^S7^S11	Yes $64.2M No $3.8K
Prop 39	Requires voters to provide additional identifying information each time they vote.^S1^S2^S3^S7^S13	Initiative constitutional amendment	Elections	Tens of millions to low hundreds of millions a year^S1^S2^S3^S4^S6^S13^S14	Yes $15.8M No $29.6M
Prop 40	One-time 5% tax on the net worth of California billionaires.^S1^S2^S3^S4^S6^S7^S14^S15^S16	Initiative constitutional amendment and statute	Taxes Health Education Budget	Tens of billions over several years^S1^S2^S3^S4^S6^S7^S14^S15^S16	Yes $32.2M No $99.6M
Prop 41	Bars new state taxes exempt from the spending limit; State Auditor reviews special-tax programs.^S1^S2^S3^S4^S7^S12^S15	Initiative constitutional amendment	Taxes Budget	Unknown net effect; added State Auditor costs^S2^S3^S12^S13^S18^S19	Yes $58.4M No $703K
Prop 42	Bans new state taxes on financial assets or other personal property and limits retroactive taxes.^S1^S2^S3^S4^S5^S7^S15	Initiative constitutional amendment	Taxes Property	Could reduce future state tax revenue^S2^S3^S12^S13^S20	Yes $111M No $703K
Prop 43	Requires two-thirds voter approval for certain local taxes, including voter-proposed special taxes, from 2027.^S1^S2^S4^S7^S14^S17	Legislative constitutional amendment	Taxes Local government	Could reduce future local tax revenue^S2^S3^S11^S16^S17	Yes $10.0M No $8.0M
Prop 44	Requires certain nonprofit community clinics to spend at least 90% of revenue on patient services.^S1^S2^S3^S4^S7^S12^S14	Initiative statute	Health Business	Low tens of millions a year, paid by clinic fees^S1^S2^S3^S12^S15^S17	Yes $10.8M No $21.6M
Prop 45	Creates optional faster environmental review and court-challenge rules for certain projects.^S1^S2^S3^S7^S12^S14^S20	Initiative statute	Environment Housing Local government	High tens of millions a year at first; fees cover some^S1^S2^S3	Yes $40.1M No $18.9M

Last updated October 17, 2026