Authorizes a corporation making loans without taking deposits; after at least three years it may seek regulatory approval to become a deposit-taking public bank.
Proposition B · San Francisco · Nov 3, 2026
Establishing a Municipal Finance Corporation and a Public Bank
Allows the City to establish a municipal lending corporation and potentially a public bank, if funding and resources are available.
At a glance
Charter amendment- Does it raise taxes?
- No new tax. It sets up the structure for a public bank; the Controller says running one could cost $310–460 million over eight years.
- Estimated cost or revenue
- No direct cost from authorization alone; if implemented, Controller cites approximately $310 million–$460 million over eight years, based on 2023 working-group estimates.
- Who pays
- Potential City grants and forgivable loans, subject to future decisions.
- Where the money goes
- Affordable housing, affordable homeownership, small business, sustainability and environmental justice.
- How long
- Potential bank transition after three years; estimates cover eight years.
Worth knowing: High uncertainty: interest rates, capitalization decisions, regulatory approval and financial sustainability could substantially change costs.
From the San Francisco Ethics Commission and the state’s fiscal analysis. Estimates are the state’s, not ours.
Your choice
Saved privately on this device.What your vote does
Does not grant this Charter authorization.
Passage does not require the City to open or fund either institution.
How the money works
TypeCharter amendment
Cost, who pays and where the money goes are in “At a glance” above.
What your guides say
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Why they disagree
A fiscally careful path to the first U.S. city public bank, lending for affordable housing, small businesses and climate projects instead of relying on big private lenders.
Official argument for (summary)The city faces large deficits, the Controller puts costs at $310–460 million over eight years, there's no dedicated funding yet, and the city already has tools for housing and small business.
Official argument against (summary)Summaries of each side. Read the full official arguments in the San Francisco voter pamphlet. Read the full official arguments
Read the official digest, fiscal statement and legal text for qualifications and exceptions.
Who’s funding it
Campaign funding by contest
Selected official disclosures, not complete election totals. Each filing lists its reporting period. Missing records do not mean no money was raised.
Yes on B, Our City Our Bank
$330,175.30 monetary contributions, year to date through Oct 28, 2026
Latest filing period: Oct 18, 2026–Oct 28, 2026
- Reported cash received
- $28,058.75
- Reported cash spent
- $131,350.86
- San Francisco Ethics Commission / NetFile
FPPC Form460 filing 217861435
Checked Nov 1, 2026
Largest contributors in the imported records
Sep 20, 2026–Oct 28, 2026
- Saikat Chakrabarti$25,000
- Nick Novitski$3,500
- Jefferson Lee$3,000
- Jason Prado$3,000
- Amy Zheng$1,000
Gross itemized monetary contributions from the imported filing periods only; refunds are shown separately in the ledger. These amounts are part of reported receipts; do not add them to the filing totals.
Opposition: no committee filing records loaded for this side in this snapshot.
Follow the money, with context.
A contribution shows a financial relationship. It does not prove motive, control, or a promised outcome.
Limited filing snapshot
Proposition B · 2026-10-18–2026-10-28, filed 2026-10-30. 9 selected itemized records; this is not a complete current fundraising total. Operating expenses describe the committee’s alignment; only explicitly attributed records establish spending on a contest.
Gross amounts in selected imported records only. Each source documents its reporting period and amendment status. These are finite snapshots, not complete current campaign totals; categories are separate and must not be added together as new money. Transfers are excluded from contributions. Refunds shown separately. Currency: USD.
| Donor / payee | Amount | Type | Date | Committee / side | Filing |
|---|---|---|---|---|---|
| Saikat Chakrabarti | $25,000 | Contributions receivedItemized monetary contribution received, Form460 ScheduleA. | Oct 26, 2026 | Yes on B, Our City Our Bank · support |
|
| Jefferson Lee | $3,000 | Contributions receivedItemized monetary contribution received, Form460 ScheduleA. | Oct 19, 2026 | Yes on B, Our City Our Bank · support |
|
| Gilbert Williams | $500 | Contributions receivedItemized monetary contribution received, Form460 ScheduleA. | Sep 20, 2026 | Yes on B, Our City Our Bank · support |
|
| Jason Prado | $3,000 | Contributions receivedItemized monetary contribution received, Form460 ScheduleA. | Sep 22, 2026 | Yes on B, Our City Our Bank · support |
|
| Nick Novitski | $3,500 | Contributions receivedItemized monetary contribution received, Form460 ScheduleA. | Sep 24, 2026 | Yes on B, Our City Our Bank · support |
|
| Amy Zheng | $1,000 | Contributions receivedItemized monetary contribution received, Form460 ScheduleA. | Sep 28, 2026 | Yes on B, Our City Our Bank · support |
|
| Rishav Rout | $428.57 | Contributions receivedItemized monetary contribution received, Form460 ScheduleA. | Oct 2, 2026 | Yes on B, Our City Our Bank · support |
|
| Paul Kumar | $100 | Contributions receivedItemized monetary contribution received, Form460 ScheduleA. | Oct 5, 2026 | Yes on B, Our City Our Bank · support |
|
| United Educators of San Francisco Committee on Political Education | $500 | Contributions receivedItemized monetary contribution received, Form460 ScheduleA. | Oct 9, 2026 | Yes on B, Our City Our Bank · support |
|
Reported filing summaries
Separate from the itemized table above. Do not add these amounts to transaction totals. These are selected filings; later amendments and reports may exist.
Yes on B, Our City Our Bank
support · 2026-10-18 to 2026-10-28
- Reported period cash receipts
- $28,058.75
- Reported period cash disbursements
- $131,350.86
Reported Form460 summary for this filing period only: cash receipts line13; cash payments line15. Calendar-year contributions line5 and expenditures line11 are separate reported figures, not added to itemized records. FiledOriginal, version 1; Most Recent (synched 2026-10-31).
- San Francisco Ethics Commission / NetFile
FPPC Form460 filing 217861435
Checked Nov 1, 2026
Official disclosure resources
Sources
- San Francisco Ethics Commission
November 03, 2026 Election · Official local contest identifiers and titles
Checked Oct 31, 2026 - San Francisco Department of Elections; Ballot Simplification Council; Controller
November 3, 2026 Voter Information Pamphlet — Proposition B · Official digest and Controller fiscal statement, printed pages 70–71
Checked Nov 1, 2026 - San Francisco Department of Elections
November 2026 official voter information pamphlet — local candidate statements and offices · Local ballot measures
Checked Nov 1, 2026