Your November Ballot, Explained - State Measures

Ballots dropped yesterday, and if you’ve heard this November’s ballot is a long one, you’ve heard right! Voters will weigh in on races and measures at the national, state, and local levels, covering everything from housing and taxes to healthcare, education, and more. With so much to consider, knowing what’s on the ballot and why it matters is more important than ever. These decisions will shape how Los Angeles grows, how businesses operate, and how essential services are funded.

That’s why we’ll help break it down for you. From now until Election Day, we’ll take a closer look each week at key issues on your ballot, providing context on what they mean and what’s at stake for our region. We’ll start at the State level, where voters will decide on 14 propositions this November. While there’s a lot on the ballot, CCA is closely watching three measures particularly relevant to our members and the broader business community.

 Proposition 40 — Billionaire's Tax 

Would impose a one-time 5% tax on the net worth of California residents worth $1 billion or more, directing the revenue to healthcare, public education, and food assistance. Supporters point to potential new funding for these programs, while opponents warn California could lose an estimated $1 billion annually in income tax revenue if high-net-worth individuals leave the state.

Proposition 43 — New Threshold for Local Taxes

Would restore a two-thirds voter-approval requirement for voter-proposed local special taxes and prevent voters from proposing new taxes based on property values (i.e., certain transfer taxes). Supporters say it would strengthen taxpayer protections, while opponents argue the higher threshold could make it more difficult to fund priorities such as affordable housing, schools, and fire protection.

Proposition 45 — Building an Affordable California - CEQA Reform

Would create a streamlined CEQA pathway for qualifying housing, health, transportation, water, and clean energy projects, with clearer timelines and fewer opportunities for delays and litigation. Supporters say the changes could accelerate development and reduce project costs, while opponents cite concerns about reduced environmental review and community input.

And there’s more to the ballot. CCA is also following several other statewide propositions with potential implications for housing, state finances, and the broader business environment, including Propositions 1, 37, and 41.

Up next week: the County ballot.