# California Proposition 40 would require billionaires who were state residents on January 1, 2026 to pay a one-time tax equal to 5 percent of net worth, due in 2027.

State: developing

Canonical: https://kleory.com/news/cases/xnews-da48bdeac916/

## Receipts
- 2026-08-16T03:06:47.228Z: California's Prop 40: One-Time 5% Tax on Billionaires Divides Voters
- 2026-08-16T03:06:47.228Z: screenshot_timestamp
- 2026-08-16T03:20:00.000Z: subject_identity
- 2026-08-16T03:20:00.000Z: The Secretary of State publishes the official qualified-measures list; this does not identify the X News headline's reporter or originator.
- 2026-08-16T03:20:00.000Z: California Proposition 40 would require billionaires who were state residents on January 1, 2026 to pay a one-time tax equal to 5 percent of net worth, due in 2027.
- 2026-08-16T03:20:00.000Z: The official qualified-measures page lists Proposition 40 for November 3, 2026 as a one-time tax initiative constitutional amendment and statute.
- 2026-08-16T03:20:00.000Z: The Legislative Analyst describes the one-time 5 percent wealth tax, covered residents, exclusions, spending allocation, and fiscal uncertainty.
- 2026-08-16T03:20:00.000Z: The official analysis says the measure is pending a November vote, excludes real estate and retirement assets generally, and has uncertain temporary and ongoing fiscal effects.
- 2026-08-16T03:20:00.000Z: The measure and tax terms are established by official records, but two X-origin searches timed out and no retained survey supports the headline's claim that voters are divided.