California · November 3, 2026 general election · Statewide ballot measure
Proposition 38: what your vote means
Bonds for immunology medical research. On every California ballot. Official sources checked October 21, 2026.
Proposition 38 · Initiative statute
Bonds for immunology medical research
AUTHORIZES BONDS FOR IMMUNOLOGY MEDICAL RESEARCH. INITIATIVE STATUTE.
As printed in the Official Voter Information Guide, California Secretary of State (title prepared by the Attorney General).
A YES vote means:
The state could borrow $8.4 billion through general obligation bonds for immunology and immunotherapy research by California institutes and universities.
A NO vote means:
The state could not borrow the $8.4 billion for this research.
What it would change
- What it funds: about half to a single University of California-affiliated nonprofit research institute and half to competitive research grants.
- Other rules: requires 10% of revenue from discoveries to first repay the state, a 20% California patient discount on resulting treatments, and buying from California suppliers when reasonably possible.
- Taxes and fees: no new tax; bonds would be repaid from the state General Fund.
- Fiscal impact (Legislative Analyst): increased state cost of $500 million to $600 million a year for about 20 years, with some or all of it offset if the research generates revenue.
Official arguments, summarized
Short neutral summaries of the arguments printed in the official voters’ pamphlet. The committees that wrote them are responsible for their content. Read the full text at the link below.
Argument for
Supporters say the research could lead to cures for diseases such as cancer and Alzheimer’s, with audits and a patient discount.
Written by: YES on 38: Californians for Life-Saving Immunology Research and Cures · yeson38.com
Argument against
The opponent says it would commit taxpayers to decades of bond debt and that research funding should go through the normal budget process.
Written by: Robert M. Kaplan, Stanford University School of Medicine
Arguments and rebuttals, Proposition 38, Official Voter Information Guide
Who supports it and who opposes it
These lists come from official campaign filings (registered committees) and public endorsements, each linked to its source. They are not complete, and SaveYourState does not endorse anyone listed. Lists checked October 30, 2026.
Who supports it
- ALS Association California Official Voter Information Guide, Nov. 3, 2026: arguments and rebuttals for Proposition 38
- Alzheimer’s Los Angeles California Official Voter Information Guide, Nov. 3, 2026: arguments and rebuttals for Proposition 38
- American Nurses Association California California Official Voter Information Guide, Nov. 3, 2026: arguments and rebuttals for Proposition 38
- Kidney Cancer Association California Official Voter Information Guide, Nov. 3, 2026: arguments and rebuttals for Proposition 38
- The Michael J. Fox Foundation for Parkinson’s Research California Official Voter Information Guide, Nov. 3, 2026: arguments and rebuttals for Proposition 38
Who opposes it
Not yet compiled
Official sources
- Official Voter Information Guide: Proposition 38
- Official title and summary (Attorney General)
- Analysis and fiscal effects, Legislative Analyst
- Text of the proposed law (PDF)
SaveYourState is independent and nonpartisan, not a government site, and does not take positions on ballot measures. This explainer describes effects only, using the official ballot title, explanatory statement, full text, and fiscal impact statement. If anything here differs from those documents, the official documents control.