
California Proposition 37 Explained: Middle-Income Homebuyer Loans
Proposition 37 would let CalHFA issue up to $25 billion in revenue bonds to offer qualifying buyers fixed-rate second mortgages of up to 17% of
Sherafy’s 2026 California Voter Guide brings our election research into one place, with clear recommendations and links to the full evidence behind each one.
Research and commentary on government, elections, political influence, public institutions, civic life, lobbying, accountability, and how policy decisions are made.

Proposition 37 would let CalHFA issue up to $25 billion in revenue bonds to offer qualifying buyers fixed-rate second mortgages of up to 17% of

Proposition 38 would authorize an $8.4 billion state general-obligation bond for immunology and immunotherapy research. Half is reserved for one qualifying nonprofit institute, and the

Proposition 4 does not create a campaign-financing program or immediately fund candidates. It removes California’s broad statutory ban and sets rules for future programs, while

Proposition 5 would separate the decision to recall a state official from the decision about who replaces that official. It would use existing vacancy rules

Proposition 3 keeps California’s existing 1%, 2% and 3% high-income tax increments after their scheduled 2030 expiration. The revenue is substantial but volatile, and claims

Proposition 2 would expand California’s rainy-day fund rules, but it does more than double the reserve cap. It also extends and broadens debt payments, changes

Proposition 1 would finance affordable rental housing, preservation, homeownership, infrastructure and veterans’ loans. The central tradeoff is whether expected housing benefits justify decades of General

Measure E would strengthen Los Angeles County’s existing ethics system and preserve its 10% community-investment allocation as the county moves to an elected executive. This

Measure A would give arbitration panels the final say in unresolved contract disputes involving specified Los Angeles County public-safety bargaining units. This analysis examines the

Eleni Kounalakis has the stronger documented record in statewide governance, housing development and public-board work. Her real-estate interests overlap with the Treasurer’s housing-finance role, however,