PRESS RELEASE

PR26-51
FOR IMMEDIATE RELEASE
April 21, 2026
Contact: sospress@sos.ca.gov

California Secretary of State Shirley N. Weber, Ph.D., Announces New Measure Eligible for November 2026 General Election Ballot 

Creates loan program for middle-income buyers of qualified new homes. Initiative statute. 

Sacramento, Calif. – Secretary of State Shirley N. Weber, Ph.D. announced that an initiative became eligible for the November 3, 2026, General Election ballot on April 21, 2026.  

In order to become eligible for the ballot, the initiative needed 546,651 valid petition signatures, which is equal to eight percent of the total votes cast for governor in the November 2022 General Election.  

A measure can become eligible via random sampling of petition signatures if the sampling projects that the number of valid signatures is greater than 110 percent of the required number. The initiative needed at least 601,317 projected valid signatures to become eligible by random sampling, and it has exceeded that threshold today.  

On June 25, 2026, the Secretary of State will certify the initiative as qualified for the November 3, 2026, General Election ballot, unless it is withdrawn by the proponent prior to certification pursuant to Elections Code section 9604(b).  

The Attorney General's official title and summary of the measure is as follows:  

CREATES LOAN PROGRAM FOR MIDDLE-INCOME BUYERS OF QUALIFIED NEW HOMES. INITIATIVE STATUTE. Authorizes up to $25 billion in bonds to offer eligible buyers fixed-rate mortgages for up to 17% of the purchase price of a “qualified new home” (new construction or first sale of converted nonresidential property, priced below about $1 million–$1.5 million, depending on county, adjusted annually). Borrowers must be California residents for one year, plan to occupy the home, earn less than 200% of area median income, and pay at least 3% down. Requires that bonds be repaid by homeowners’ mortgage payments, not State. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: No direct state or local costs. (25-0013A1) 

The Secretary of State’s tracking number for this measure is 1990 and the Attorney General's tracking number is 25-0013A1. 

The proponent of the measure is Robert M. Hertzberg. The address for the proponent 555 Capitol Mall, Suite 400, Sacramento, CA 95814. 

For more information about how an initiative qualifies for the ballot in California, visit https://www.sos.ca.gov/elections/ballot-measures/how-qualify-initiative/. 

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