California voters decide 14 ballot measures including billionaire tax and housing bonds

California voters are deciding the fate of 14 statewide propositions covering taxes, healthcare, housing and election rules. Campaigns for and against the measures have spent nearly $1 billion combined, the most ever on state ballot measures.

Proposition 1 would let the state borrow up to $11.25 billion for housing construction and renovations, mostly rental units. Developers and local governments receiving funds would need to reserve part of the money for affordable housing for low-income renters or specialized housing serving the homeless.

“This story will be updated as election results come in.”

Proposition 2 asks whether the state can deposit more money into its rainy day fund. Current rules from the 1970s limit how much California can save in surplus years despite a volatile tax system tied to high earners.

Proposition 3 would make permanent an income tax on individuals earning over $360,000 a year, directing more money to K-12 education. The tax was first passed in 2012 as a temporary measure.

Proposition 4 would allow state and local governments to create public financing for political campaigns, with candidates generally accepting spending limits in exchange for public money.

Proposition 5 would change recall elections so voters only decide whether to remove an elected official, rather than also choosing a replacement. The story will be updated as election results come in.