California Voters Will Decide on Proposition 38 Funding

The November 2026 ballot measure proposes $8.4 billion in bonds to support state immunology research.

Updated on Oct. 1, 2026 in Asthma

Bold flat-color editorial illustration of a glass double-helix structure and a stylized California poppy flower against a solid background. — California voters will decide on Proposition 38 this November, a $8.4 billion bond measure designed to expand the state's immunology and immunotherapy research capacity. AI Illustration. Upload story photo >

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Should California issue billions in bonds to fund private medical research institutes?

In November 2026, California voters will cast ballots on Proposition 38, a measure authorizing $8.4 billion in state bonds to fund immunology research. The initiative aims to support studies into cancer, heart disease, and Alzheimer's disease.

Why it matters

Proponents argue the measure is necessary to address a significant gap in federal funding for medical and scientific research. By authorizing these bonds, the state seeks to establish itself as a national leader in immunology and immunotherapy advancements.

Proposition 38 authorizes $8.4 billion in bonds, with at least $4.2 billion earmarked for immunology research. Repaying these bonds will cost California taxpayers between $500 million and $600 million annually for approximately 20 years.

The players

California Institute for Immunology

This entity maintains affiliations with UCLA and is positioned as a primary site for the proposed research grants.

Stanford School of Medicine

This institution is associated with researchers who have engaged in the public discourse surrounding the measure.

Gary K. Michelson

He is a prominent benefactor who has contributed $120 million to his own research institute.

The details

To qualify for funding, institutions must have been established by January 1, 2025, and control at least 200,000 square feet of research space. Qualifying centers must also secure $250 million in philanthropic support and maintain an affiliation agreement with a University of California campus.

Voters approved Proposition 71 for stem cell research in 2004.
Voters approved Proposition 14 for stem cell research in 2020.
Qualifying research institutions must be established by January 1, 2025.
The Yes on 38 campaign held a virtual news conference in mid-September 2026.
California voters will decide on Proposition 38 in November 2026.

Deeper Dive

This measure follows the pattern established by the 2004 passage of Proposition 71, which authorized state support for stem cell research.

If passed, the measure will create a recurring annual cost of up to $600 million for California taxpayers for the next two decades. Voters must weigh this long-term financial obligation against the potential for medical breakthroughs in fields like oncology and neurology.

The takeaway

The ballot measure represents a significant shift toward state-level intervention in the medical research sector. Residents should consider the balance between the projected scientific benefits and the multi-billion dollar debt service taxpayers will shoulder through 2046.