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Prop 1: Housing bonds

Authorizes Bonds for Housing Affordability Programs

Legislative Statute. A state law the Legislature put on the ballot.

In plain English

Proposition 1 lets the state borrow $11.25 billion. Of that, $10 billion would fund housing programs, mostly to build or fix up rental apartments, including supportive housing. Other money would help low- and moderate-income households buy or repair homes. It also funds farmworker, University of California and Cal State student, and tribal housing, plus infrastructure and local pilot programs. The other $1.25 billion would fund veterans' home loans. Veterans' loan payments repay that part, so it has no direct state cost. The General Fund would repay the $10 billion, about $500 million to $600 million a year for about 25 years. After adjusting for inflation, interest makes that $10 billion cost about 15 percent more than paying up front.

A YES VOTE MEANS

The state could borrow $11.25 billion to support veterans and affordable housing.

A NO VOTE MEANS

The state could not borrow $11.25 billion to support veterans and affordable housing.

Official Spanish text from the California Official Voter Information Guide.

Source: official voter guide

Official ballot label

The exact words on your ballot. Tap to read.
AUTHORIZES BONDS FOR HOUSING AFFORDABILITY PROGRAMS. LEGISLATIVE STATUTE. Authorizes $11.25 billion in state general obligation bonds for housing affordability programs, including multifamily rental housing, mortgages for veterans, supportive housing, preservation of existing affordable housing, and downpayment assistance. Fiscal Impact: Increased state cost of $500 million to $600 million annually for about 25 years to repay the housing bond.
Source: LA County Registrar, measures on the ballot

Official text in English. Read the official Spanish voter guide.

Official arguments

Written by supporters and opponents and printed in the official state voter guide, word for word. Arguments printed on this page are the opinions of the authors and have not been checked for accuracy by any official agency.

Official text in English. Read the official Spanish voter guide (PDF).

Argument for

By supportersSigned by Anni Chung, Jeffery Freitas, and John H. Ing. Tap to read.

YES ON PROP. 1: AFFORDABLE HOMES FOR VETERANS, SENIORS, PEOPLE WITH DISABILITIES AND WORKING FAMILIES - WITHOUT RAISING TAXES

All Californians deserve a safe and affordable place to call home, but California has a housing shortage that is driving the nation's worst housing affordability crisis. More than half of renters spend over 30% of their income on rent and only 22% of households can afford a median-priced home, yet only 1% of California's state budget goes to housing.

Prop. 1 gives Californians the opportunity to:

  • Fast-track housing production;
  • Provide housing to working families, veterans, people with disabilities and seniors;
  • Help prevent homelessness by keeping our most vulnerable neighbors in their homes;
  • Expands homeownership opportunities;
  • Maintains strict fiscal accountability and transparency with NO NEW TAXES.

PROP. 1 HONORS OUR VETERANS

Dedicates $1.25 billion solely to veterans' housing and homeownership opportunities through the existing CalVet Home Loan Program, which has already helped almost a million veterans and their families.

"California has one of the largest populations of homeless veterans in the nation. After their service, our veterans deserve a place to call home. Prop. 1 delivers on that promise." - Michael Blecker, President, CA Association of Veteran Service Agencies

PROP. 1 BUILDS HOMES LOW- AND MIDDLE-INCOME FAMILIES CAN AFFORD

Prop. 1 jumpstarts the construction of tens of thousands of shovel-ready affordable homes across California, quickly turning stalled construction into move-in ready homes. The teacher in your child's classroom, the firefighter who protects your neighborhood, first-time homebuyers, low- and middle-income Californians, and the nurse at your local hospital can no longer afford to live in most California communities. Prop. 1 builds more homes working people can actually afford.

NO NEW TAXES - STRICT ACCOUNTABILITY AND TRANSPARENCY

Prop. 1 doesn't raise taxes and every dollar comes with strict accountability and public reporting. Voters will be able to see exactly how many homes get built, where, and at what cost. Prop. 1 unlocks federal matching funds, bringing tax dollars we send to Washington back home to California.

PROP. 1 HELPS SENIORS, VETERANS & OUR MOST VULNERABLE

Prop. 1 creates and preserves housing to help those who are one crisis away from homelessness stay off the streets, low-income seniors on fixed incomes, survivors of domestic violence and their families, veterans, at risk and foster youth, and people with disabilities who all deserve safe and stable homes.

PROP. 1 INVESTS IN COMMUNITIES & ESSENTIAL WORKERS

Quality, affordable housing is the foundation of thriving communities. Prop. 1 strengthens that foundation by helping essential workers - from firefighters and teachers to nurses - afford to live in the communities they serve. Working families and essential workers across California are being priced out and left behind. Prop. 1 enables the construction of affordable housing for these essential workers who dedicate their lives to our communities.

YES ON PROP. 1: SUPPORTED BY VETERANS, SENIORS, TEACHERS, FIREFIGHTERS, AND AFFORDABLE HOUSING ADVOCATES including Habitat for Humanity California, California Alliance for Retired Americans, Housing California, California Housing Consortium, California Alliance of Child and Family Services.

VOTE YES ON PROP. 1, Veterans and Affordable Housing Bond, to honor those veterans who served; provide safe and stable housing to California's most vulnerable; guarantee strict fiscal accountability with no new taxes; and build the affordable homes all Californians deserve.

YesOnProp1CA.com

Anni Chung, President
Self-Help for the Elderly
Jeffery Freitas, President
California Federation of Teachers
John H. Ing, Chief Financial Officer
US Vets

Argument against

No argument against was filed.

Source: California Secretary of State, arguments and rebuttals, as of Oct 15, 2026

Where groups stand

Every group on our list, by category. Each position links to the group's own published guide.

Label definitions Quotes are each group's own words, copied exactly.

Political parties

10 groups

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News outlets

5 groups

These are the only news outlets we found with published endorsements for this election. Suggest another.

Labor

9 groups

Business

3 groups

Civic and good government

1 group

Issue and advocacy groups

3 groups

About the summary

Summary drafted with AI from the official analysis and checked against it by automated review. Read the official analysis

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