On November 9, 2026, California voters approved Proposition 38. This proposition allows the state to issue $8.4 billion in bonds aimed at funding research in immunology and immunotherapy. The goal is to find cures and preventions for chronic diseases. The measure was confirmed by the Associated Press on Monday evening.
At least $4.2 billion of the funds will focus on immunology research targeting cancer, heart disease, and Alzheimer’s disease. The state is also authorized to partner with a selected immunology and immunotherapy research institute chosen by the California Department of Public Health. This partnership involves allocating half of the bond revenue to this institute.
Opponents of the measure argue it will burden taxpayers with long-term debt. They also criticize that the grant qualification criteria are so selective, only one California institute currently qualifies. This institute, the California Institute for Immunology and Immunotherapy, was co-founded by Gary K. Michelson, who wrote the proposition. He is also its largest supporter, contributing $45 million to the campaign, as noted in state data.
The remaining funds will be offered as competitive research grants targeting immunology and immunotherapy. A council of representatives from University of California campuses, other universities, and nonprofit research institutions will award these grants.
Supporters celebrated the passage of Proposition 38. In a press release, they noted its timing amidst federal research funding cuts, which have disrupted clinical trials and medical discoveries across the nation. Chris Tarver, a nurse and president of the American Nurses Association\California, stated, “This victory belongs to the patients and families fighting devastating diseases and waiting for medical breakthroughs.”
The Legislative Analyst’s Office estimates that Californians will pay an annual cost of $500 million to $600 million to repay the bond over about 20 years. If funded research results in revenue-generating treatments, costs could potentially be offset. However, predicting successful market outcomes remains uncertain.

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