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Bill or law · United States

California Billionaire Tax Act (Proposition 40, November 2026 ballot)

Pending

A one-time tax of 5% on the net worth of California residents on 1 January 2026 who hold over $1 billion (real estate and some pensions excluded), payable in 2027 or over five years, with 90% of the revenue for health care.

Overview

Proposition 40 is a ballot initiative, a constitutional amendment and statute, that taxes billionaires once. It applies a 5% tax to the net worth on 1 January 2026 of California residents who hold more than $1 billion. Real estate and some pensions are excluded. The tax is payable in 2027 or over five years, and 90% of the revenue goes to health care.

It was on the 3 November 2026 ballot. According to the Legislative Analyst, Propositions 41 and 42 on the same ballot could stop it if they win more yes votes. The result was not final on 8 November 2026. The register holds the ballot-argument signers and a long list of endorsements, listed below, and the page's title, summary and the three-page Legislative Analyst analysis were read in full. The full initiative text was not re-read.

Written from the records and links on this page.

On the record 269

Statements, votes and sponsorships in the register whose source is this bill or one of its documents: 261 campaign records, 8 statements.

Show the other 229

Official documents 1

From the records tracker for United States: the bill, its debates, votes and committee reports, and whether each has been read in full.

  • Bill · Prop 40, 3 Nov 2026 · 2026-11-03 · California voters
    What the reading found

    Found: Title, summary and Legislative Analyst analysis (3 pages): one-time 5% tax on net worth over $1bn. Ballot-argument signers were read in R036; endorsements are in the register.

    Not read: Full initiative text and the voter guide arguments were not re-read in this run; the result was not final on 8 November 2026.

People in the register 318

Sponsors and signatories who are on a register, each with the statement they rest on.