Prop 4 Public Financing of Campaigns, California 2026: Who's Paying and Why

On the November 3 Ballot

Prop 4: Public Financing of Campaigns

Repeals the 1988 ban on public campaign funds

Why it's on your ballot The Legislature passed it, but the law requires voters to approve it. It repeals a ban voters passed in 1988 (Prop 73). The Legislature can't undo a voter-approved measure on its own.⁶ The rule: Cal. Constitution, Art. II, § 10(c). The Legislature can change a voter-passed initiative only with voter approval, unless the initiative allows it.⁷

History Voters banned public campaign funding in 1988 (Prop 73). Since then, only charter cities such as San Francisco have been allowed to create programs.^8,9

A YES vote means: The state and local governments could create programs that give public money to candidates' campaigns, with limits on which funds can be used.⁶
A NO vote means: The state and most local governments still could not create public campaign financing programs.⁶

Yes side $0 No side $0 Who gains, who pays

Who it helps if it passes

Candidates without access to big donors, if their city, county or the state creates a program

Who pays or loses if it passes

Taxpayers in any place that chooses to create a program. The money cannot come from funds set aside for schools, transportation or public safety.

What the funders get No campaign on either side has raised $1 million.¹

Cost to taxpayers A few hundred thousand dollars a year for state oversight. Any actual program would be created and paid for separately, later.⁶

Allows state and local governments to create public funds for candidates' campaigns, reversing a 1988 ban.⁶

Today only a handful of charter cities, including San Francisco and Berkeley, publicly fund candidates. This would let the state and any city or county set up a program. It does not create one by itself.⁶

YES side special interest: None

✗ One funder dominates: No major funders¹
✗ Funders profit: No major funders¹
✗ Narrow benefit: Applies to any candidate, if a program is created¹
✗ Outside money: No major funders¹

NO side special interest: None

✗ One funder dominates: No major funders¹
✗ Funders profit: No major funders¹
✗ Narrow benefit: No major funders¹
✗ Outside money: No major funders¹

Endorsed by

California Common Cause
California Clean Money Campaign
League of Women Voters
California Democratic Party

Opposed by

Funding the YES campaign

No committee has raised $1M or more. That is the state's threshold for reporting top donors.

Funding the NO campaign

No committee has raised $1M or more. That is the state's threshold for reporting top donors.

Sources for this measure: ^1,6,8,10