Voters approved a measure Tuesday in support of the state’s stem cell research institute,52.41% % to 47.59%.
Proposition 14 will now call for $5.5 billion in general obligation bonds for the California Institute for Regenerative Medicine, which was created to fund stem cell research.
In 2004, voters approved Proposition 71, which created CIRM and issued $3 billion in bonds to finance CIRM, establishing a state constitutional right to conduct stem cell research.
The ballot initiative would require CIRM to spend no more than 7.5% of the bond funds on operation costs.
The remaining bond funds would be allocated on grants to entities that conduct research, trials and programs related to stem cells, as well as start-up costs for facilities.
Nearly $1.5 billion would be directed to therapies and treatments for brain and nervous system diseases, such as Alzheimer’s, Parkinson’s and dementia.