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Monday, October 12, 2026

The Bond

From the Sacramento Bee: The Yes on Proposition 38 campaign has raised more than $38 million and spent nearly $20 million of it on television advertisements in support of the $8.4 billion immunology research bond on the November ballot. The No on Proposition 38 group had raised less than $640 by Sept. 19. Instead of funding ads, the group is focused on letter-writing campaigns to highlight possible issues with the ballot initiative. On Oct. 6, they wrote a letter to California Attorney General Rob Bonta alleging that the measure may violate the state constitution...

Only one research institute in California appear[s] to meet the criteria for half of the immunology bond’s funds: the California Institute for Immunology and Immunotherapy, an independent medical research organization affiliated with UCLA. Gary Michelson, a billionaire philanthropist and medical inventor, is both the co-founder of that institute and the chief backer of Prop. 38...

A section of the California Constitution that says an initiative that identifies a private corporation to perform any function or have any power may not be submitted to voters. While Prop. 38 does not name any private corporation, [opponents] asked if it “makes any legal difference when the requirements effectively identify it.” ...

The campaign had raised more than $38 million, as of Sept. 19, of which more than $33 million has come from billionaire philanthropist Gary Michelson and his nonprofit Michelson Center for Public Policy. Another $5 million was donated by Meyer Luskin, co-founder of the institute...

Full story at https://www.sacbee.com/news/politics-government/capitol-alert/article317528464.html.

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