Proposition 38: Immunology Research Bonds
Source: electionresults.sos.ca.gov
What does this measure do?
Supports: Environment and Public Health, Healthcare Affordability
California would borrow $8.4 billion for research on the immune system, with at least half for cancer, heart disease, and Alzheimer's. Taxpayers would repay $500 million to $600 million a year for about 20 years, and the state could get some back if the research leads to money-making discoveries.
Read the official ballot measure (PDF)
Proposed by: Citizen initiative backed by Dr. Gary Michelson and Meyer Luskin
Michelson is a billionaire who chairs the California Institute for Immunology and Immunotherapy; he gave at least $8.2 million. Co-founder Luskin gave at least $5 million.
Source: calmatters.org
A YES vote means
California could borrow $8.4 billion for immune-system research at California nonprofit institutes and universities.
A NO vote means
California could not borrow this $8.4 billion for immune-system research.
Campaign Finance Information
Campaign Finance Information
Largest donors supporting
- Michelson Center for Public Policy, Inc.Medical research advocacy nonprofitIts top donors: Gary K. Michelson (surgeon and medical-device inventor)$13,000,000
- Gary K. Michelson and affiliated entitySurgeon and medical-device inventor$8,200,000
- Meyer LuskinLos Angeles businessman (food-waste recycling)$5,000,000
Largest donors opposing
No large donors reported.
Filings as of September 16, 2026 · Source: fppc.ca.gov
Sources: sos.ca.gov · lao.ca.gov