Voters approve Prop. 38 medical research bond measure

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Set us as preferred California voters have passed Proposition 38, authorizing the state to issue $8.4 billion in bonds to fund immunology and immunotherapy research aimed at curing and preventing certain chronic diseases.The measure, which the Associated Press called on Monday evening, requires at least $4.2 billion of the funds to be used for immunology research on cancer, heart disease and Alzheimer’s disease.It also authorizes the state to enter into a partnership with an unnamed immunology and immunotherapy research institute selected by the California Department of Public Health, and to allocate half of the bond revenue to it.Opponents argued that the measure would saddle taxpayers with decades of debt and that the requirements to qualify for grants created such a narrow pool of candidates that only one research institute in California, the California Institute for Immunology and Immunotherapy, currently meets the criteria to receive half the bond revenue.

Gary K.Michelson, a wealthy philanthropist who wrote the proposition, co-founded the institute.

He was also the proposition’s largest supporter, pouring $45 million into the campaign, according to state data.Remaining funds will be used for competitive research grants that focus on immunology and immunotherapy.

Those grants would be awarded by a council of representatives from University of California campuses, universities and nonprofit research institutions.Californians will take on an increased cost of $500 million to $600 million annually to repay the bond for an anticipated 20 years, according to the Legislative Analyst’s Office.Some or all of the cost could be offset if any funded research generates revenue.

However, it’s difficult to predict how many, if any, research projects would lead to marketable treatments.Times staff writer Hannah Fry contribute...