**Proposition 43, the legislatively referred constitutional amendment on the November 3, 2026 ballot, would require two-thirds voter approval for citizen-initiated local special taxes (instead of a simple majority) beginning January 1, 2027, while also restricting certain new ad valorem property taxes in charter cities.** It emerged from a June 2026 compromise between Democratic legislative leaders, Governor Newsom’s office, and the Howard Jarvis Taxpayers Association to withdraw a more restrictive initiative that had threatened existing revenue measures. Organized opposition from public employee unions, local government associations, and special districts has highlighted risks to funding for schools, transportation, housing, and other services, arguing the change would empower minority blocs to block majority-supported initiatives. Taxpayer advocates counter that it restores consistency with the two-thirds threshold already applied to government-proposed special taxes and protects against low-turnout outcomes. With roughly six weeks until the election and limited early polling or campaign momentum shifts reported, traders assign a modest edge to rejection, reflecting the strength of revenue-dependent interest groups and the typical difficulty of passing ballot measures that constrain local fiscal tools.