November 3, 2026 general election
California Proposition 37; what a yes or no vote means.
Creates a homebuying-assistance program backed by up to $25 billion in revenue bonds for eligible California residents buying qualified new homes.
Bottom line
What Proposition 37 does
Creates a homebuying-assistance program backed by up to $25 billion in revenue bonds for eligible California residents buying qualified new homes.
The measure is a initiative statute placed on the ballot by petition signatures. Its official title is “Creates Loan Program for Middle-Income Buyers of Qualified New Homes.”
A yes vote
Yes means
The state would create the program; participating homeowners would repay the bonds through their loan payments.
A no vote
No means
The state would not be required to create the proposed homebuying-assistance program.
State estimate
What it could cost
No direct state or local government costs are estimated.
That is the fiscal effect summarized from the state voter guide. Estimates describe likely government effects; they are not a promise of an exact future result.
Primary record
Read the complete state analysis
This explainer is a starting point. The Secretary of State’s guide carries the impartial analysis, fiscal estimate, arguments for and against the measure, rebuttals and proposed law. Read that record before making a decision.
Open the official Proposition 37 guide