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Authorizes $11.25 billion in state general obligation bonds for housing affordability programs, including multifamily rental housing, mortgages for veterans, supportive housing, preservation of existing affordable housing, and downpayment assistance.
Increases California's Rainy Day Fund, approved by voters in 2014, to provide funding for education, health care, public safety, and other essential services during economic downturns.
Makes permanent existing voter-approved tax rates for individuals earning over $371,000 (adjusted annually for inflation). Allocates tax revenues to public education.
Repeals prohibition on state and local governments offering public funding of candidate election campaigns. Public funding programs may not use funds earmarked for education, transportation, or public safety.
Under current law, voters elect replacement candidates at the same time as the recall election. This measure instead fills recall vacancies by subsequent special election or appointment.
Authorizes $25 billion in bonds to offer eligible buyers fixed-rate mortgages for up to 17% of purchase price of a newly constructed home priced below about $1.5 million. Borrowers must be California residents, occupy the home, meet income limits, and pay at least 3% down. Bonds repaid by mortgage payments, not State.
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.
Invalidates mail ballots that do not have last four digits of designated government-issued identification number written on envelope. Prohibits in-person voting without presenting government-issued identification.
Imposes 5% tax on certain taxpayers with assets over $1 billion; revenue primarily for health care. Exempts revenues from constitutional requirements for school funding and spending limit.
Nullifies state taxes enacted after January 1, 2026 that exempt their revenues from voter-approved state spending limit. Requires pre-election and recurring audits of programs funded by new special taxes.
Prohibits any new state tax (1) imposed on the ownership of personal property (all things people own other than real estate), or (2) that applies retroactively based on taxpayer’s past activities. Nullifies taxes enacted after January 1, 2026 that conflict with this measure.
Limits voters’ ability to pass voter-proposed local special taxes by increasing percentage of votes needed to approve such ballot measures from a majority (over 50%) to two-thirds, beginning January 1, 2027.
Imposes penalties on nonprofit Federally Qualified Health Centers (community clinics providing primary care to medically underserved areas and populations) that spend less than 90% of revenue on “program services” advancing their charitable purpose, including but not limited to patient services.
Amends California Environmental Quality Act (CEQA) to expedite environmental review for certain projects (including most housing, transportation, water, and health projects) by setting deadlines to complete environmental review and resolve lawsuits challenging project approvals.