This explainer was originally published by our news partners CalMatters. Be prepared for California’s primary: Sign up for CalMatters' free election newsletter and be the first to know when they update the CalMatters 2026 Voter Guide with information on key races.
What does California Proposition 38 do?
Proposition 38 would create an $8.4 billion bond largely to fund research into fighting cancer, heart disease and Alzheimer’s, plus other diseases that can be treated through immunotherapies. Half the money would go to a research institute affiliated with the University of California. The other half would be distributed to select public universities and nonprofits. Drugs created through this research would have to be discounted at 20% for Californians and 10% of any revenue from the drugs would go back to the state general fund.
What do supporters and opponents say?
- American Association of Immunologists
- California Democratic Party
- City of Hope
- Michelson Center for Public Policy
- Robert Kaplan, senior scholar at Stanford
- No on 38, led by California Health Policy Strategies
- League of Women Voters
- Orange County Register Editorial Board
Ballot text
This is how the proposition will appear on the ballot.
AUTHORIZES BONDS FOR IMMUNOLOGY MEDICAL RESEARCH. INITIATIVE STATUTE. 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. Fiscal Impact: 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.
Source: California Secretary of State
