California Voters Face $8.4 Billion Bond to Fund Immunology Research

Proposition 38, slated for the November ballot, would authorize $8.4 billion in state bonds to subsidize immunotherapy research targeting cancer, Alzheimer’s disease and heart conditions. Half of the proceeds are designated for the California Institute for Immunology and Immunotherapy, a UC-affiliated nonprofit founded by billionaire surgeon Gary Michelson, who also contributed $61 million to the campaign; the remaining $4.2 billion would be distributed to selected nonprofit and research entities.

Any medicines developed must be sold to Californians at a 20 percent discount, with 10 percent of revenue returned to the state. Support comes from the American Association of Immunologists and Alzheimer’s San Diego, while critics including the League of Women Voters, the Howard Jarvis Taxpayers Association, and several state legislators argue the bond concentrates funds on one organization and misuses public money. The proposal is part of a trio of large bond measures, with Prop. 1 funding affordable housing and Prop. 37 creating a loan program for homebuyers, prompting atypical alliances across party lines. Statements from Republican Assemblymember Carl DeMaio, Assemblymember Chris Ward, and various local campaign managers illustrate the political complexity surrounding the initiative.