This post was updated Nov. 9 at 10:16 p.m.
A measure that will allow the state to borrow an $8.4 billion bond for immunology and immunotherapy research passed Monday, according to the Associated Press.
“Yes” received 54.2% of votes cast on Proposition 38 as of Monday evening. The proposition will fund research for cancer, heart disease and Alzheimer’s disease, among others that can be treated with immunotherapy. Half of the bond will fund a UC-affiliated immunology and immunotherapy research institute, while the other half will be distributed to select nonprofits and public universities, according to the California Voter Guide.
The only institution that meets the proposition’s criteria to receive half of the bond revenue is the California Institute for Immunology and Immunotherapy, a founding member of the UCLA Research Park, according to CalMatters. The Research Park is a new research center for multidisciplinary work in Westwood that is currently under construction and estimated to operate at full occupancy by 2035.
The institute’s primary funder is Gary K. Michelson, who authored Proposition 38. Any drugs created directly through this funding would be discounted by at least 20% for Californians, and 10% of the revenue from the drugs would go back into the state general fund.
The proposition will create an Advisory and Accountability Research Council consisting of seven UC representatives and 10 to 15 representatives from other universities and non-profit research institutes to distribute half of the bond’s proceeds. The council would create research goals and create criteria for grant funding.
[Related: Will Proposition 38’s $8.4B bond help or harm research?]
Opponents say the bond will increase state costs by $500 million to $600 million annually over a period of 20 years to repay the initial $8.4 billion. They also cite the possible inequity of allocating $4.2 billion to a singular unnamed lab, according to CalMatters.
Proponents – including Californians for Live-Saving Immunology Research and Cures – argue that the measure will provide life-saving treatment for people with immune diseases and stabilize research after federal research funding cuts from the Trump administration.
