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Local reports · CalMatters

A last-minute voter guide to all 14 propositions on the California ballot

By Adam Echelman, CalMatters · Oct 25, 2026

This story was originally published by CalMatters. Sign up for their newsletters.

In summary

Californians are voting on 14 ballot measures, including propositions on taxes, voting, healthcare, housing and the environment. It’s a lot to take in, but we’re here to help.

Yes, the much talked-about billionaire tax is on the ballot this November, but it’s just one of 14 statewide propositions. 

If you’re not a policy wonk who knows the ins and outs of state election, tax or environmental law, don’t worry — you’re not alone, and we’re here to help. The CalMatters voter guide has full explainers, videos and even quizzes to help you decide how these measures line up with your values and priorities.

But if you do want the tl;dr on who is supporting what, here’s an even shorter, last-minute summary.

Taxes: Props. 2, 3, 40, 41, 42 and 43

If it seems like this year’s ballot has an unusually high number of tax-related ballot propositions, well, you’re right. It does. 

Prop. 2 would allow the state to deposit more money into its reserves, otherwise known as the rainy day fund. The state has strict rules about how much money it can save for lean times in part because of limits imposed during the state’s 1970s taxpayer revolt. But California also has a fairly volatile tax system that rises and falls with the incomes of its highest earners. Democrats want more flexibility to sock money away for downturns. Many Republicans say leftover money should go to taxpayers, rather than sit in state coffers. 

Prop. 3 would turn a temporary income tax for high earners into a permanent law. The tax, which hits those with individual income over $360,000, was enacted as a quick fix in 2012, with most of the money going to support K-12 education and community colleges. Now the state’s largest teachers union wants to make the tax permanent, but opponents say California already has some of the highest taxes in the country.  

Prop. 40, otherwise known as the billionaire tax, is hands-down the highest profile and the most expensive proposition campaign this year. It would enact a one-time 5% tax on billionaires’ net worth, raising roughly $100 billion over five years, according to the healthcare workers union that put the measure on the ballot. Proponents argue that these ultra-wealthy Californians are already getting federal tax cuts and that the money will help healthcare programs that face state and federal funding cuts. But business leaders point out that California relies on these billionaires for tax revenue, and if they leave, the state could suffer. Even some healthcare organizations, such as Planned Parenthood, oppose Prop. 40, because they are concerned the money won’t actually help stave off state and federal funding cuts. 

Prop. 40 is so controversial that its opponents have two rival ballot measures, Prop. 41 and Prop. 42, which, if approved, would thwart the billionaire tax. A yes vote for either of these two ballot measures would invalidate the billionaire tax. 

Prop. 43 would make it harder for local citizen-driven tax referenda to pass. Currently, these local tax measures only need a majority to win. If Prop. 43 passes, they would need two-thirds of the vote. Proponents say Prop. 43 closes a loophole in election tax law. Opponents say it’s anti-democratic.

Should California borrow money for housing and medical research?

The state can quickly raise lots of cash by selling bonds to investors, but selling too many bonds risks saddling the state with debt. 

Prop. 1 would authorize the state to borrow up to $11.25 billion toward housing construction and renovations, mostly for rental units. Many developers and local governments that receive the money would have to reserve a portion of it for affordable housing for low-income renters or for specialized housing that serves the homeless. Some money would also be earmarked to support first-time homebuyers, veterans, farmworkers, students and California’s tribal communities. 

Prop. 37 would create a loan fund that helps middle-class homebuyers with their down payment. It’s technically a $25 billion bond, though the money would get paid back slowly by homebuyers rather than from taxpayers. If passed, most California renters would qualify. Proponents, including unions, real estate developers and the Democratic Party, say the proposition could make homebuying accessible, but opponents say it has a number of problems that could prevent the program from actually happening, or worse, that it could put homebuyers in greater debt.

Prop. 38 would pump $8.4 billion in state funding to immunology research — but with a catch. About half the money would go to one nonprofit organization, most likely the California Institute for Immunology and Immunotherapy. Gary K. Michelson, the institute’s co-founder, put this proposition on the ballot.

Changing election laws

These ballot propositions could shape how the candidates raise money and how recall elections operate. Voters will also weigh in on a voter ID proposal. 

Prop. 4 would allow the state and local governments to create public financing for political campaigns. Proponents, including the California Democratic Party, argue it could help cap political spending because candidates usually have to accept certain spending limits in exchange for access to public money. Opponents say the proposal could force taxpayers to chip in money for candidates they don’t support. Research on the effectiveness of public financing for political campaigns is mixed. 

Prop. 5 would modify the rules surrounding California’s recall elections. Currently, a recall election asks voters whether they want to oust the officeholder and who they want instead. A yes vote on Prop. 5 would make it so that recall elections only ask whether voters want to remove the elected official from office. If recalled, another election would determine who should replace the officeholder. The Democratic Party supports this proposition. Republicans oppose it. 

Prop. 39 would increase identification requirements for California voters. To register, voters are already required to provide proof of citizenship, such as their Social Security number. This proposition would require voters to reaffirm their citizenship again before casting their vote. Republicans argue the proposition would put California in line with many other states and that it will crack down on voter fraud, which is rare. They’ve spent over $36 million supporting the proposition, almost half of it from Illinois billionaire Richard Uihlein. Democrats say Prop. 39 could create “unnecessary barriers,” especially for immigrants and low-income Californians who lack a driver’s license. 

Other stuff: Healthcare and the environment

Anyone can place a proposition on California ballots if they follow the right procedures and get enough signatures, but special interest groups, such as unions and pro-business organizations, do it more often than most.  

Prop. 44 comes from the same healthcare workers union that put the billionaire tax on the ballot. It would force health clinics to spend at least 90% of their annual revenue on patient care. The union, Service Employees International Union-United Healthcare Workers West, argues Prop. 44 is needed to keep CEO salaries in check and ensure clinics are spending money on patients. The Democratic Party and healthcare associations oppose it, saying it will create unnecessary regulation at a time when clinics are already facing financial pressures from federal budget cuts. 

Prop. 45, sponsored by the pro-business California Chamber of Commerce, could pare down California’s landmark environmental review law, known as CEQA. The 1970 law requires agencies to consider environmental harm before building, but developers say the law is often a tool to delay much-needed affordable housing and infrastructure projects. Environmentalists say approving Prop. 45 could be “disastrous” for communities that live near industrial pollution.

If you want more information, remember that all of this information, and much more, is available in the CalMatters voter guide. 

This story was originally published by CalMatters and is republished under its terms.

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