Proposition 42: Personal Property and Retroactive Tax Prohibitions
Source: electionresults.sos.ca.gov
What does this measure do?
California could no longer tax people for simply owning stocks, savings, or other personal property, and most taxes reaching back to past years would be banned. State tax money might grow less in future years, and if it gets more yes votes than Proposition 40, the billionaire tax, it could block it.
Read the official ballot measure (PDF)
Proposed by: Citizen initiative by Building a Better California, a committee funded by Google co-founder Sergey Brin
A committee funded mainly by Sergey Brin ($102 million) and venture capitalist John Doerr. Its goal is to cancel Prop 40, the billionaire tax, if it gets more yes votes.
Source: cpapracticeadvisor.com
A YES vote means
California could not tax people for simply owning stocks, savings, or other personal property. Most state taxes that reach back to past years would also be banned.
A NO vote means
California could still consider both types of taxes. Existing taxes would stay unchanged either way.
Campaign Finance Information
Campaign Finance Information
Largest donors supporting
- Building a Better CaliforniaPolitical committee funded by tech investorsIts top donors: Sergey Brin (Google co-founder); L. John Doerr III (venture capitalist); Patrick Collison (CEO of payments company Stripe)$60,050,000
- Reform California with Carl DeMaio - Ballot Measure CommitteeRepublican assemblymember's small-donor committee$22,537
Largest donors opposing
- Service Employees International Union, United Healthcare Workers WestHealthcare workers union$22,048,461
- SEIU United Health Care Workers West Political Issues CommitteeHealthcare workers union committee$7,399,506
- SEIU United Health Care Workers West Political Action CommitteeHealthcare workers union committee$2,000,000
Some of this money went to groups that also work on other measures.
Filings as of September 16, 2026 · Source: fppc.ca.gov
Sources: sos.ca.gov · lao.ca.gov