Official Title & Summary

Official Title and Summary: The California Stem Cell and Cures Initiative

The Attorney General has prepared the following title and summary of the chief purpose and points of the proposed measure:

STEM CELL RESEARCH. FUNDING. BONDS. INITIATIVE CONSTITUTIONAL AMENDMENT AND STATUTE.

Establishes “California Institute for Regenerative Medicine” to regulate stem cell research and provide funding, through grants and loans, for such research and research facilities. Establishes constitutional right to conduct stem cell research; prohibits Institute’s funding of human reproductive cloning research. Establishes oversight committee to govern Institute. Provides General Fund loan up to $3 million for Institute’s initial administration/implementation costs. Authorizes issuance of general obligation bonds to finance Institute activities up to $3 billion subject to annual limit of $350 million. Appropriates monies from General Fund to pay for bonds. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: State cost of about $6 billion over 30 years to pay off both the principal ($3 billion) and interest ($3 billion) on the bonds. Payments of about $200 million per year.

Paid for by YES on 71: Coalition for Stem Cell Research and Cures, #1260661
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