The Carlsbad Chamber of Commerce is backing a $25 billion housing bond and opposing a billionaire asset tax on the Nov. 3 ballot.

The Chamber, led by President and CEO Bret Schanzenbach, released its full 2026 Voter Resource Guide on Tuesday, Oct. 13, staking out positions on six state propositions. The business group supports four measures and opposes two.

Here is where the Chamber stands.

Proposition 37: Housing Bond — Support

The measure would create a $25 billion mortgage loan program for home buyers earning less than 200% of the area median income, according to the Chamber's guide. It would offer fixed-rate mortgages covering up to 17% of the purchase price on homes priced under $1.5 million. Buyers must pay at least 3% of their down payment. The Chamber says borrowers repay the money, resulting in no net cost to taxpayers.

Proposition 40: Billionaire Asset Tax — Oppose

Prop 40 would impose a one-time tax of up to 5% on certain billionaires' assets, including publicly traded stock, private company ownership interests, venture capital, bonds, intellectual property and collectibles. The Chamber called it the first "Savings Tax" in the nation and said it "raises questions about California's long-term tax revenues, economic climate and fiscal stability," while the measure would direct most revenue toward healthcare.

Proposition 42: Prohibition on Taxing of Assets — Support

This measure would prohibit new taxes on ownership or accumulation of retirement holdings, individually owned assets and other forms of personal savings.

Proposition 43: Supermajority Vote — Support

Prop 43 would raise the threshold for citizen-driven special tax ballot initiatives from a simple majority to two-thirds. That would make it harder to impose or increase taxes.

Proposition 44: Healthcare Governance — Oppose

The measure would require federally qualified health centers to spend 90% of revenue on direct patient care and services for low-income and underserved people. Clinics that don't comply would face fines. The Chamber said the measure "would severely limit innovative care clinics currently provide."

Proposition 45: Land Use Permitting — Support

Prop 45 would amend the California Environmental Quality Act (CEQA) to create deadlines for environmental reviews of housing, transportation, water, health and clean energy projects. The goal is to speed up permitting and limit courts' ability to stop or delay developments. The Chamber said it supports "efforts to make the permitting process more timely and predictable while maintaining environmental review and public participation."

The guide also includes candidate profiles for local races, according to the Chamber.

Carlsbad voters can cast ballots at vote centers or drop off mail-in ballots at any of the city's three library locations during regular hours, according to the city manager's Oct. 8 update. Ballot drop boxes at Poinsettia Community Park, Buena Vista Reservoir Park and Pine Avenue Community Park are open 24 hours a day through 8 p.m. on Election Day, Tuesday, Nov. 3.