Official Circulating Title & Summary of Proposition 14:
AUTHORIZES BONDS TO CONTINUE FUNDING STEM CELL AND OTHER MEDICAL RESEARCH. INITIATIVE STATUTE.
Authorizes $5.5 billion in state general obligation bonds to fund grants from the California Institute of Regenerative Medicine to educational, non-profit, and private entities for: (1) stem cell and other medical research, therapy development, and therapy delivery; (2) medical training; and (3) construction of research facilities. Dedicates $1.5 billion to fund research and therapy for Alzheimer’s, Parkinson’s, stroke, epilepsy, and other brain and central nervous system diseases and conditions. Limits bond issuance to $540 million annually. Appropriates money from General Fund to repay bond debt, but postpones repayment for first five years. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: State costs of $7.8 billion to pay off principal ($5.5 billion) and interest ($2.3 billion) on the bonds. Associated average annual debt payments of about $310 million for 25 years. The costs could be higher or lower than these estimates depending on factors such as the interest rate and the period of time over which the bonds are repaid. The state General Fund would pay most of the costs, with a relatively small amount of interest repaid by bond proceeds. (19-0022A1.)
I supportYES on Proposition 14 to continue funding for stem cell research, treatments and cures in California. You may list me publicly as a member of Californians for Stem Cell Research, Treatments, and Cures, a growing movement of passionate individuals and organizations from across California who support the initiative to accelerate development of treatments and cures for life-threatening diseases and conditions.
By providing your cell phone number you consent to receive periodic text updates. Reply STOP to cancel at any time. Message and data rates may apply.