California voters have passed Proposition 38, allowing the state to issue $8.4 billion in bonds to fund immunology and immunotherapy research for cancer and chronic diseases Nov. 9, according to a report from the Los Angeles Times.
Five things to know:
1. The measure requires at least $4.2 billion of the funds to be used for immunology research on cancer, heart disease and Alzheimer’s disease.
2. About half the funds will go to a research institute specializing in immunology and immunotherapy. The California Department of Public Health will choose the institution.
3. Remaining funds will be used for competitive research grants focusing on immunology and immunotherapy. A council of representatives from seven University of California campuses and 10 to 15 other universities and nonprofit research institutions in California will award these grants.
4. Californians will have an increased state cost of $500 million to $600 million annually for about 20 years to repay the bond.
5. No more than 2% of the bonds can be used for state administrative costs.