California Proposition 40 (Imposes One-Time Tax on Certain Individuals and Trusts) is on the November 3, 2026 ballot. Impose a one-time tax of up to 5% on taxpayers and trusts with covered assets valued over $1 billion, allocating 90% of the revenues to health care and 10% to food assistance or education-related programs.
What a yes or no vote means
Read the certified ballot question
Impose a one-time tax of up to 5% on taxpayers and trusts with covered assets valued over $1 billion, allocating 90% of the revenues to health care and 10% to food assistance or education-related programs.
Verify with the state: official full text and details →.
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About this measure
California allows initiated constitutional amendments, initiated statutes, and veto referendums, and the Legislature can refer amendments with a two-thirds vote of each house. Initiative signature requirements are pegged to the last governor's race: 8 percent of votes cast for constitutional amendments (874,641 signatures for the 2026 cycle) and 5 percent for statutes and referendums (546,651), gathered within a 180-day circulation window. Every measure, citizen-initiated or referred, passes with a simple majority of votes cast on it.
Wording above follows the certified ballot language; The Ballot Brief does not take positions on measures.