Proposition 14, the Stem Cell Research Institute Bond Initiative, would issue $5.5 billion in bonds for the California Institute for Regenerative Medicine (CIRM).

State Proposition 14 aims to continue funding for CIRM’s stem cell research, after voters approved Prop 71 in 2004 which financed $3 billion and made such research a state constitutional right.

“As of October 2019, all but $132 million of CIRM’s funding has been spent,” wrote Gabriel Petek, a legislative analyst, in an analysis for the California Attorney General, Hon. Xavier Becerra. “According to CIRM staff, the remaining funding will be used primarily to oversee active grants.”

On July 1, 2019, CIRM released a statement that after 55 clinical trials, they would not be accepting applicants for new projects due to the depleted funds.

Of the $5.5 billion, $1.5 would be dedicated to “for the support of research and the development of treatments for diseases and conditions of the brain and central nervous system, such as Alzheimer’s disease, Parkinson’s disease, stroke, dementia, epilepsy, depression, brain cancer, schizophrenia, autism, and other diseases and conditions of the brain,” according to the full text of the proposition.

If approved, the expected fiscal impact of the bond issuance would be “state costs (increased) to repay bonds estimated at about $260 million per year over the next roughly 30 years,” according to the California Secretary of State summary.

“This medical revolution holds the promise of restoring health and quality of life for many of California’s individuals and families suffering from chronic disease and injury,” said Robert Klein, a real estate investor, in favor of the proposition. “However, the last tactical mile to bring this broad spectrum of therapies to patients will require more funding and the thoughtful support of California’s public as the human trials and discoveries are refined and tested, overcome numerous obstacles or complications, and ultimately serve to improve the life and reduce the suffering of every one of us.”

In opposition to the proposition, Marcy Darnovsky, executive director of the Center for Genetics and Society, said “The new proposition makes some things worse; for example, it outsources critically important decisions about ethical standards to an unaccountable national committee… While stem cell research is valuable, there are no longer federal limits on its funding, which was the justification in 2004 for asking California voters to allocate the first multi-billion-dollar pot of money.”

A yes vote on Prop 14 would support the $5.5 billion in bonds towards stem research.

A no vote on Prop 14 would oppose the issuance of $5.5 billion in bonds to California’s stem cell research.

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