Ballot Stakes · Nov 3, 2026 · Irvine, CA
Prop 1: Veterans and Affordable Housing Bond Act of 2026 ($11.25 billion housing bond)
Lets California borrow $11.25B for affordable housing; the General Fund repays ~$10B at ~$500-600M a year for ~25 years.
A Yes vote means
The state may borrow $11.25B: $10B GO bonds (repaid from the General Fund) for housing programs and $1.25B for CalVet veterans home loans (repaid by veterans)
A No vote means
The state cannot borrow this $11.25B and the housing programs lose this funding source (CBC says last bond funds are largely depleted; 46,000+ affordable homes in 491 developments await state funding)
Who pays: leans poor and middle class pay. Whose pocket it lands in: mostly ends with poor and middle class.