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Live results: Prop. 38 — the billion-dollar bond for immunology research
Proposition 38 is an initative for California to borrow $8.4 billion in bonds. Some critics say half of the money would end up at one research group.
Robert Garrova
Robert Garrova explores the weird and secret bits of SoCal that would excite even the most jaded Angelenos. He also covers mental health.
Published September 29, 2026 at 5:00 PM PDT
Updated November 3, 2026 at 8:02 PM PST
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About this race
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Prop 38: immunology research bond
Proposition 38 allows California to borrow $8.4 billion in bonds to pay for the study of the human immune system and to develop treatments that help it fight diseases. It requires the state to enter into a partnership with — and allocate about half of the bond funds to — a University of California-affiliated institute that meets specific criteria. The other half of the funds would go toward competitive research grants. The measure would require at least half of the bond funds be used for immunology research on cancer, heart disease and Alzheimer’s disease.

Proposition 38 allows California to borrow $8.4 billion in bonds to pay for the study of the human immune system and to develop treatments that help it fight diseases. It requires the state to enter into a partnership with — and allocate about half of the bond funds to — a University of California-affiliated institute that meets specific criteria. The other half of the funds would go toward competitive research grants. The measure would require at least half of the bond funds be used for immunology research on cancer, heart disease and Alzheimer’s disease.

But the measure has sparked controversy over who backs it — and who stands to benefit if it passes.

What to keep in mind about these numbers

  • For LAist's charts showing vote counts, we get numbers directly from the L.A. County and Orange County registrars of voters for local races. Totals are updated on our site as soon as possible after the registrars provide new tallies. For statewide races, counts come from the California Secretary of State's Office.
  • Has your ballot been tallied yet? You can track the status of your ballot here.
  • Keep in mind that, in tight races particularly, the winner may not be determined for days or weeks after election day. That's because early voting and mail-in ballots have fundamentally reshaped how votes are counted and when election results are known. The upshot: Ballots can be postmarked up to and including Election Day. They're counted as long as the ballot arrives within seven days of the election and that window contributes to the lag time before results are announced.
  • In L.A. County, for example, daily updates on the counting are expected to take place at least once a day — usually around 5 p.m. — through Nov. 13. (There will be multiple updates on Nov. 5 and 6.) Then, the once-a-day counts will resume again on Nov. 17, 19, 25 and 27. The office is scheduled to certify election results by Friday, Nov. 27. In Orange County, there will be multiple updates after the polls close, and then daily updates weekdays at 5 p.m. until results are scheduled to be certified on or before Dec. 3.
  • The California Secretary of State is scheduled to certify the election results on Dec. 11.
  • Our priority during the vote count will be sharing outcomes and election calls only when they have been thoroughly checked and vetted by journalists. To that end, we will rely on official results and report when candidates concede. Otherwise, we rely on NPR and the Associated Press for race calls. We will not report the calls or projections of other news outlets. You can find more about NPR's and the AP's process for counting votes and calling races here and here.

Wondering how we got here? Here's the backstory to this race:

What’s at stake?

Supporters of Prop. 38 say that uncertainty around federal funding for scientific research means that other funding sources are needed and that the research could lead to treatments that help tens of millions of patients living with Alzheimer’s disease, cancer or heart disease.

So why is this measure controversial?

Opponents of Prop. 38 say it would seemingly steer $4.2 billion — half the bond funds — to one research group.

A CalMatters analysis of Prop. 38 found that only one organization would probably qualify for the partner research institute under the measure’s current language: the California Institute for Immunology and Immunotherapy. The billionaire co-founder of the California Institute for Immunology and Immunotherapy, Gary K. Michelson, is one of the two ultrawealthy chief backers of Proposition 38, CalMatters reports.

Opponents question why, with several viable immunology research institutes in the state, the measure would apparently single out just one recipient.

Backers of Prop. 38 contend that the specific criteria detailed in the measure do not solely apply to the California Institute for Immunology and Immunotherapy, according to the CalMatters analysis.

Official title on the ballot: Prop. 38: Authorizes bonds for immunology medical research

Language you will see:

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. Fiscal Impact: Increased state cost of $500 million to $600 million annually for about 20 years to repay the research bond, with some or all of the cost offset if the funded research generates revenue.

What your vote means

  • A "yes" vote means: The state could borrow $8.4 billion to support medical research in immunology and immunotherapy conducted by California research institutes and universities.
  • A "no" vote means: The state could not borrow $8.4 billion to support medical research in immunology and immunotherapy conducted by California research institutes and universities.

Here’s what supporters say

  • The Yes on Prop. 38 website states that the $8.4 billion is “vitally needed funding to advance breakthrough immunology research” that could have a positive impact on the lives of millions of people living with Alzheimer’s disease, cancer or heart disease. 
  • Notable supporters: Alzheimer’s Los Angeles, The Michael J. Fox Foundation for Parkinson’s Research, California Black Health Network

Here’s what opponents say

  • The Vote No on Prop. 38 website says the measure could “unfairly” steer $4.2 billion to one research organization. 
  • Notable opposition: League of Women Voters of California, Orange County Register Editorial Board, Howard Jarvis Taxpayers Association
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Potential financial impact

The measure would lead to an increased cost of $500-$600 million annually for about 20 years for the state, representing about 0.25% of the state’s total General Fund budget, according to the state’s Legislative Analyst’s Office.

The LAO reports that there could be opportunities for “significant” revenue from the measure, if the research it funds leads to viable treatments.

What it takes to win

A majority is needed to pass.

Watch the ballot cram session analysis

Campaign financing

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