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33 of 55 · State · Yes/No
State · Yes/No
Proposition 40 — One-Time Tax on Billionaires
Imposes a one-time 5% wealth tax on billionaires who were California residents on January 1, 2026, generally excluding real estate, pensions, and retirement accounts. Ninety percent of revenue would fund health care; the rest would fund education, food assistance, and administration.
A yes vote means
The state would levy the one-time wealth tax. If Proposition 41 or 42 receives more yes votes, a court could find a conflict that prevents this measure from taking effect.
A no vote means
The state would not levy this one-time wealth tax.
Arguments & rebuttals
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