The state could borrow $8.4 billion to support medical research in immunology and immunotherapy conducted by California research institutes and universities.
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How to interpret this record
California Proposition 38 2026: What a Yes or No Vote Means
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Read the full elections & ballots guide →PROP38
California · November 3, 2026 · upcoming
AUTHORIZES BONDS FOR IMMUNOLOGY MEDICAL RESEARCH.
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.
What your vote means
Yes or No, in the state's words
The state could not borrow $8.4 billion to support medical research in immunology and immunotherapy conducted by California research institutes and universities.
What the state says it may cost or change
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.
Read the full analysis
The Quick Reference Guide does not publish a separate current-law sentence for this proposition. Electionpedia does not infer one. The Legislative Analyst's analysis in the official proposition PDF explains the baseline law.
Open official analysis ↗Qualified through petition signatures
The official guide labels this measure as put on the ballot by Petition Signatures. This is a source classification, not an Electionpedia judgment.
Not available before Election Day
This election is upcoming. Electionpedia will not show a blank or zero as a result.
Attributed positions
Who the official quick guide lists
Michael J. Fox Foundation; Alzheimer’s Los Angeles; Kidney Cancer Assoc; American Nurses Assoc\CA
Robert M Kaplan Ph.D.
Arguments are the opinions of their authors and have not been checked for accuracy by an official agency.