Proposition 1: Veterans and Affordable Housing Bond Act of 2026
Source: electionresults.sos.ca.gov
What does this measure do?
Supports: Housing Affordability, Public Infrastructure
California would borrow about $11 billion to build affordable housing and give veterans home loans. Taxpayers would repay about $10 billion of it through the state budget, roughly $500 million to $600 million a year for about 25 years.
Read the official ballot measure (PDF)
Proposed by: California Legislature (Senate Bill 417, Senate President pro Tem Monique Limón and Speaker Robert Rivas)
Limón is a Santa Barbara Democrat who leads the state Senate; Rivas leads the Assembly. They say the bond would build affordable homes and help veterans buy houses.
Source: hoover.org
A YES vote means
California could borrow $11.25 billion. Most would fund affordable housing; $1.25 billion would fund veterans' home loans.
A NO vote means
California could not borrow this $11.25 billion. These housing and veterans' loan programs would not receive the money.
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)$1,000,000
- Western States Regional Council of Carpenters Issues CommitteeCarpenters union committeeIts top donors: Western States Regional Council of Carpenters$1,000,000
- Californians for Affordable Homes, Yes on Proposition 1, sponsored by NPH Action FundAffordable housing advocacy committeeIts top donors: NPH Action Fund Political Issues Committee; Scott D. Cook (Intuit co-founder)$700,000
- Housing Trust Silicon ValleyNonprofit housing lender$400,000
- Eden Housing Management, Inc.Nonprofit affordable housing developer$350,000
Largest donors opposing
No large donors reported.
Filings as of September 16, 2026 · Source: fppc.ca.gov
Sources: sos.ca.gov · lao.ca.gov