2026 California Ballot: Proposition 1

Proposition 1: Allows the state of California to sell $11.25 billion in bonds in order to generate funds for affordable housing programs.

According to CalMatters:

• The bonds are expected to fund up to 40,000 multifamily rental units, and help another 40,000 households afford a home.
• $1.25 billion would be used towards veteran housing, while the rest would go towards constructing rental homes, homeownership programs, farmworker housing, affordable student housing, tribal housing.

FISCAL IMPACT: Increased state cost of $500 million to $600 million annually for about 25 years to repay the housing bond. 

"Yes" Vote:  The state could borrow $11.25 billion to support veterans and affordable housing.

"No" Vote:  The state could not borrow $11.25 billion to support veterans and affordable housing.

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