The California Voter Guide says Proposition 14 authorizes $5.5 billion in state bonds for stem cell and other medical research, including training; research facility construction, and administrative costs. It dedicates $1.5 billion to brain-related diseases and appropriates General Fund money for repayment. It expands related programs.
The fiscal impact is that it increases state costs to repay bonds estimated at about $260 million per year over the next roughly 30 years.
A YES vote on this measure means the state could sell $5.5 billion in general obligation bonds primarily for stem cell research and the development of new medical treatments in California. If voters approve the measure, California would have to repay the bonds at a rate of about $260 million a year over 30 years, according to the state’s legislative analyst.
A NO vote on this measure means the state could not sell $5.5 billion in general obligation bonds primarily for stem cell research and the development of new medical treatments in California.
This proposition came about because California’s first-of-its-kind state program to fund stem-cell research is running out of money, and its supporters want voters to provide a $5.5 billion infusion.
The California Institute for Regenerative Medicine has spent nearly $3 billion for research since the non-profit was created in a 2004 ballot question supported by 59% of voters. New stem-cell labs were created around the state and grants were awarded to Stanford University, the University of California, Berkeley, and other prominent institutions.
In the years since, clinical studies have