2024 California Proposition 34

Proposition 34

November 5, 2024 (2024-11-05)

Restricts Spending of Prescription Drug Revenues By Certain Health Care Providers

Proposition 34, titled Restricts Spending of Prescription Drug Revenues By Certain Health Care Providers, is a California ballot proposition and initiative statute that will be voted on in the 2024 general election on November 5. The proposition, if passed, would require health care providers that have spent over $100 million in any 10-year period on anything other than direct patient care, and operated multifamily housing with over 500 high-severity health and safety violations, to spend 98% of the revenues from federal discount prescription drug program on direct patient care.

Supporters argue that health care providers, especially those that receive government subsidies such as those through the drug discount program, should spend most of their funds on direct patient care and not divert money to unrelated projects.

Opponents argue that the proposition is a "revenge initiative" designed to specifically target the AIDS Healthcare Foundation, the only group in California who seems to match Proposition 34's restrictions. The AIDS Healthcare Foundation is a major supporter of this year's Proposition 33 and other similar rent control proposals, while the California Apartment Association, a major supporter of this Proposition 34, is a major opponent of Proposition 33 and other similar rent control proposals.