Proposition 42 — personal-property and retroactive tax ban

What a YES vote does

YES bans new state personal-property taxes and certain state taxes that apply retroactively.

Official vote explanation, November 2026 edition; publication day unstated; retrieved 2026-10-05.

What a NO vote does

NO keeps the state's current power to enact those taxes.

Official vote explanation, November 2026 edition; publication day unstated; retrieved 2026-10-05.

Cost and money

The official analysis says future state revenue could be lower because tax options become more restricted.

Timing and amount are unknown.

Official fiscal analysis, November 2026 edition; publication day unstated; retrieved 2026-10-05.

Who put it on the ballot

Initiative petition; certified June 25, 2026.

Official qualified list, undated, retrieved 2026-10-05; Secretary Shirley Weber's certification release, 2026-06-25. Weber is the certifying official, not the measure's sponsor. June 25 is certification, not a claim that every legislative vote occurred that day.

A rule that matters

Applies to covered new taxes after January 1, 2026.

Existing protections for retirement income differ from this broader asset-tax restriction; the title is not a finding that a new retirement tax already exists.

Official analysis and law, November 2026 edition; publication day unstated; retrieved 2026-10-05.

Who is paying

SOS daily chart: Yes $73,827,037.00; No $362,225.00. Quick Guide, undated daily snapshot retrieved 2026-10-05. The chart applies election-cycle/allied-transfer adjustments. Committee exports below use their own records and may include later receipts, shared campaigns, intermediary money and nonmonetary support. Differences remain unreconciled; do not add them or treat the chart as a committee balance.

Yes: Yes on 42 - Protect Retirement & Life Savings, a Coalition of Retirees, Blue-Collar Workers, Seniors, Veterans, Small Businesses & Taxpayers, #1488418

$97,827,037.26 in captured itemized receipts. Periodic records through 2026-09-18: $60,827,037.26; added later receipts: $37,000,000.00. Cal-Access filer #1488418, late receipts, retrieved 2026-10-05.

Only 3 positive donor identities appear in the captured itemized records; no extra names invented.

Captured periodic export; captured late export. Aliases combine only where a contributor ID matches; negative adjustments remain negative. Named affiliated groups may appear separately.

No: Tax the Ultra-Rich Now, Yes on 3 & 40, No on 41 & 42 — filer 1495036

The retained October 5 SOS chart credits $362,225 to committees opposing Prop 42. Its five largest listed gifts are the five funders below; their receipts are now verified in committee 1495036's filings. These chart entries are individual gifts, not an allocation of every shared committee's receipts. Captured SOS chart.

$369,298.00 in captured committee-wide receipts, retrieved October 7, 2026: $340,225.00 in the Form 460 filed September 23, covering January 1–September 19, plus $29,073.00 in later receipts through October 5. The export's latest periodic transaction is September 17; later records of INC2, INC6 and INC10 duplicate periodic Ottinger receipts and are excluded. Official committee summary, captured summary, periodic export, late export, calculation and custody.

Shared committee: 1495036 supports propositions 3/40 and opposes 41/42. Its receipts are not allocated among those measures in the captured filings. The October 7 committee total and October 5 SOS adjusted chart have different dates and methods; neither is a verified total spent opposing Prop 42. Do not add the same receipts across measure pages.

Shared committee registered Yes on 40 / No on 41 & 42: Yes on 40 - Billionaire Tax Now, sponsored by SEIU-UHW — filer 1484470

$32,423,797.91 in combined committee-wide receipts, not allocated to No on Prop 42. Committee 1484470 is principally a Yes-on-40 campaign with No-on-41/42 positions; its SEIU-UHW receipts must not be represented as funding allocated against this proposition. Periodic records through 2026-09-19: $31,847,564.50; added later receipts: $576,233.41. Cal-Access filer #1484470, late receipts, retrieved 2026-10-05.

Shared committee: these are committee-wide receipts across propositions 40, 41, 42. They are not allocated to this proposition, and must not be added again across measure pages.

Captured periodic export; captured late export. Aliases combine only where a contributor ID matches; negative adjustments remain negative. Named affiliated groups may appear separately.

Why: who benefits

People and businesses with covered assets gain protection against new taxes; public programs lose a potential funding option.

The financial concentration in Building a Better California identifies the funding channel, not every underlying donor's intention.

Official law and analysis, November 2026 edition; publication day unstated; retrieved 2026-10-05; committee/interest declarations and dated receipts above. Endorsement claims are identified as claims in the official arguments. The published arguments are the signers' opinions, not agency-verified findings.

Existing database, checked 2026-10-05: Secretary of State organization #15343; Shirley Weber politician #100 (certification role only). Funder rows above link the recorded find and resolve results, including exact entity IDs. Near matches were not merged; profiles and prior evidence are leads, not proof about this measure. Lookup custody.

Our view — opinion

What remains unknown

Money received after the captured filings, unfiled late receipts, unitemized donor detail, ultimate sources behind intermediaries, and a full reconciliation between SOS adjusted totals and gross committee receipts remain unknown. Donor rankings aggregate captured receipts within a committee; they do not rank ultimate wealth owners. Loans are identified separately where available.