Proposition 40: California Billionaires in the Crosshairs

Jennifer Scharre co-authored “Proposition 40: California Billionaires in the Crosshairs” which was published in the California Trusts & Estates Quarterly. The article discusses Proposition 40, the “One-Time Wealth Tax for State-Funded Healthcare, Education, and Food Assistance Programs Initiative,” also known as the 2026 Billionaire Tax Act (the “Act”) and potential implications of the tax for taxpayers with the text of the Act as a guide. The full article is linked here.