Who put each measure there, who is paying for each side, and what to know. Money and details as of October 4, 2026.
| Prop | What a YES vote does | Put on the ballot by | YES money | NO money | Worth knowing | My vote |
|---|---|---|---|---|---|---|
| 1 | Housing Bond YES = Borrow $11.25B for affordable and veterans' housing |
Legislature (voters must approve: borrowing) | $6.3M Low | — | Top donors include developers who could get the money | ☐ Y ☐ N |
| 2 | Rainy Day Fund YES = Raise the cap on state reserves from 10% to 20% |
Legislature (voters must approve: constitutional change) | — | — | ☐ Y ☐ N | |
| 3 | High-Income Tax Extension YES = Make the 2012 tax on incomes over ~$371K permanent |
California Teachers Association | $48.6M Medium | — | Teachers' unions put up nearly all the money | ☐ Y ☐ N |
| 4 | Public Financing of Campaigns YES = Allow public funding of campaigns |
Legislature (voters must approve: undoes a past voter measure) | — | — | ☐ Y ☐ N | |
| 5 | Recall Reform YES = Pick a recall replacement in a later election, not on the same ballot |
Legislature (voters must approve: constitutional change) | — | — | ☐ Y ☐ N | |
| 37 | Homebuyer Loan Program YES = State loans for buyers of NEWLY BUILT homes only, 3% down |
Realtors, with carpenters' unions | $29.6M High | — | Only about 36,500 new homes sold in 2025. California has about 7.6 million owner-occupied homes. About 7 in 8 buyers buy existing homes and can't use it. | ☐ Y ☐ N |
| 38 | Immunology Research Bond YES = Borrow $8.4B for immunology research |
Gary Michelson, a billionaire surgeon and inventor | $26.2M High | — | The main funder co-founded and chairs the institute that gets $4.2B | ☐ Y ☐ N |
| 39 | Voter ID YES = Require ID to vote in person, and an ID number on mail ballots |
Richard Uihlein and Reform California | $22.0M Medium | $17.6M None | 77% of the YES money is from one Wisconsin donor | ☐ Y ☐ N |
| 40 | Billionaire Tax YES = One-time 5% tax on wealth over $1B |
SEIU-UHW, a healthcare workers' union | $32.1M Medium | $84.2M High | 99% of the NO money comes from a billionaire-funded PAC, plus billionaire Chris Larsen and his company | ☐ Y ☐ N |
| 41 | Audits of New Taxes YES = Audit new taxes; cancel new taxes exempt from the spending cap |
Building a Better California, a PAC fighting Prop 40 | $58.4M High | $31.6M Medium | Written by Prop 40's opponents to cancel it | ☐ Y ☐ N |
| 42 | Ban on Personal Property Taxes YES = Ban state taxes on owning assets such as stocks |
Building a Better California, a PAC fighting Prop 40 | $89.8M High | $31.6M Medium | If it gets more votes than Prop 40, Prop 40 is cancelled | ☐ Y ☐ N |
| 43 | Two-Thirds Vote for Local Tax Initiatives YES = Citizen-proposed local taxes need two-thirds of the vote, not a majority |
Legislature (voters must approve: constitutional change, part of a deal with an anti-tax group) | $14.0M Medium | $4.3M Medium | Commercial landlords and business groups fund the YES side | ☐ Y ☐ N |
| 44 | Community Clinic Spending Rule YES = Clinics must spend 90% of revenue on care or pay penalties |
SEIU-UHW, a healthcare workers' union | $16.9M Low | $16.7M Low | Clinics allege in court that the union offered to drop it in exchange for new union members (unproven) | ☐ Y ☐ N |
| 45 | Faster Environmental Review (CEQA) YES = Deadlines for environmental reviews and lawsuits |
California Chamber of Commerce | $26.3M Low | $20.5M Low | Utilities, homebuilders and an oil producer fund the YES side | ☐ Y ☐ N |
Special interest level (None/Low/Medium/High) scores each side's money on four checks: one funder paid over half; the funders profit if their side wins; the benefit goes to a narrow group; most money is from outside California. It describes who is behind a side, not whether the measure is good or bad. Money is from top donors reported to the FPPC.