Proposition 38: Borrow $8.4 billion for immunology research
Proposition 38 would create an $8.4 billion bond largely to fund research into fighting cancer, heart disease and Alzheimer’s, plus other diseases that can be treated through immunotherapies. Half the money would go to a research institute affiliated with the University of California. The other half would be distributed to select public universities and nonprofits. Drugs created through this research would have to be discounted at 20% for Californians and 10% of any revenue from the drugs would go back to the state general fund. Philanthropist and medical inventor Gary Michelson put this measure on the ballot.
