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Proposition C · San Francisco · Nov 3, 2026

Contributions to the Housing Trust Fund

Changes the Housing Trust Fund contribution formula, expands eligible programs, and extends the fund to 2058.

At a glance

Spending requirement
Does it raise taxes?
No new tax. It requires more of the existing city budget to go to affordable housing (up to $125 million a year).
Estimated cost or revenue
Controller estimates about $6 million additional General Fund cost in FY2028–29, rising to about $60 million annually by FY2034–35.
Who pays
City General Fund, reducing resources available for other purposes.
Where the money goes
Affordable housing production/preservation, homeownership assistance and eligible related infrastructure.
How long
Modified formula from FY2028–29; fund extended through 2058.

Worth knowing: Projections assume no temporary freezes or reductions and depend on future revenues.

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

✓ A Yes vote means

Accelerates contributions toward $125 million annually, expands downpayment eligibility to 200% of area median income, and extends the fund fifteen years.

× A No vote means

Keeps current contribution rules and the 2043 expiration.

Stays the same either way

Temporary pauses or reductions would remain possible under specified deficit and reserve conditions.

How the money works

TypeSpending requirement
Rate or thresholdFormula grows contributions to at least $125 million, then caps annual increases at 3% tied to General Fund growth.

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

Supporters say

Supporters, including the measure's sponsors on a unanimous Board of Supervisors, say directly funding below-market homes is a cheaper way to add affordable housing, and that this completes a 2026 deal with nonprofit builders after the inclusionary fee was cut.

Supporters (summary)
Opponents say

The Controller notes it doesn't follow the city's policy of limiting budget set-asides, which already lock up about 30% of the General Fund. We didn't find a filed opposition argument; check the pamphlet.

City Controller (fiscal concern)

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.

Supporting

Yes on C - San Franciscans for Affordable Homes, sponsored by the NPH Action Fund

$1,185,000 monetary contributions, year to date through Oct 28, 2026

Latest filing period: Oct 18, 2026–Oct 28, 2026

Reported cash received
$70,000
Reported cash spent
$216,713.22
Filed Oct 30, 2026. Original filing; current version for this reporting period when checked.

Largest contributors in the imported records

Sep 20, 2026–Oct 28, 2026

  1. NPH ACTION FUND POLITICAL ISSUES COMMITTEE$250,000
  2. OPENAI OPCO, LLC(ANN O'LEARY)$250,000
  3. YES ON D - STAND UP FOR SF SPONSORED BY LABOR ORGANIZATIONS$35,000
  4. SAN FRANCISCO COMMUNITY LAND TRUST$25,000
  5. GUZMAN CONSTRUCTION GROUP, INC.$25,000

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.

Support: no committee filing records loaded for this side in this snapshot.

Opposition: See shared committee disclosures below; their money is not allocated to individual measures.

Committees campaigning on multiple measures

A committee’s total cannot be assigned in full to each measure. Totals are shown once and are not included in individual-measure totals.

Shared committee · not allocated by measure

Yes on C, No on I, SF for Accountability in Housing sponsored by the San Francisco Building and Construction Trades Council and the San Francisco Chamber of Commerce

$2,727,749

Reported monetary contributions, calendar year to date

Jan 1, 2026–Oct 28, 2026

Form460 summary line1 columnB. Committee-level calendar-year monetary contributions; not allocated per measure, and not added to selected contributor aggregates or transactions. Original filing; current version for this reporting period when checked.

Largest contributors within the imported snapshot

Sep 20, 2026–Oct 28, 2026. These are parts of the committee’s receipts, not additional money.

  1. THE RELATED COMPANIES/WILLIAM WITTE$200,000
  2. MICHAEL MORITZ$200,000
  3. SAN FRANCISCO APARTMENT ASSOCIATION ISSUES PAC$191,000
  4. SF FORWARD SPONSORED BY SAN FRANCISCO CHAMBER OF COMMERCE$175,000
  5. KILROY REALTY, LP & AFFILIATED ENTITIES$100,000
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 C · 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.

Contributions received$605,000
Campaign expendituresUnavailable
Independent expendituresUnavailable
LoansUnavailable
RefundsUnavailable
Committee transfersUnavailable
Loan repaymentsUnavailable

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.

Reported transactions · 9 records
Donor / payeeAmountTypeDateCommittee / sideFiling
PAULETT TAGGART ARCHITECTS$2,500Contributions receivedItemized monetary contribution received, Form460 ScheduleA.Sep 24, 2026Yes on C - San Franciscans for Affordable Homes, sponsored by the NPH Action Fund · supportFiled Oct 30, 2026
SAN FRANCISCO COMMUNITY LAND TRUST$25,000Contributions receivedItemized monetary contribution received, Form460 ScheduleA.Oct 2, 2026Yes on C - San Franciscans for Affordable Homes, sponsored by the NPH Action Fund · supportFiled Oct 30, 2026
NPH ACTION FUND POLITICAL ISSUES COMMITTEE$250,000Contributions receivedItemized monetary contribution received, Form460 ScheduleA.Oct 8, 2026Yes on C - San Franciscans for Affordable Homes, sponsored by the NPH Action Fund · supportFiled Oct 30, 2026
COMMUNITY ECONOMICS, INC.$2,500Contributions receivedItemized monetary contribution received, Form460 ScheduleA.Oct 9, 2026Yes on C - San Franciscans for Affordable Homes, sponsored by the NPH Action Fund · supportFiled Oct 30, 2026
OPENAI OPCO, LLC(ANN O'LEARY)$250,000Contributions receivedItemized monetary contribution received, Form460 ScheduleA.Oct 9, 2026Yes on C - San Franciscans for Affordable Homes, sponsored by the NPH Action Fund · supportFiled Oct 30, 2026
JOHN STEWART COMPANY$5,000Contributions receivedItemized monetary contribution received, Form460 ScheduleA.Oct 12, 2026Yes on C - San Franciscans for Affordable Homes, sponsored by the NPH Action Fund · supportFiled Oct 30, 2026
YES ON D - STAND UP FOR SF SPONSORED BY LABOR ORGANIZATIONS$35,000Contributions receivedItemized monetary contribution received, Form460 ScheduleA.Oct 22, 2026Yes on C - San Franciscans for Affordable Homes, sponsored by the NPH Action Fund · supportFiled Oct 30, 2026
GUZMAN CONSTRUCTION GROUP, INC.$25,000Contributions receivedItemized monetary contribution received, Form460 ScheduleA.Oct 26, 2026Yes on C - San Franciscans for Affordable Homes, sponsored by the NPH Action Fund · supportFiled Oct 30, 2026
CHINATOWN COMMUNITY DEVELOPMENT CENTER$10,000Contributions receivedItemized monetary contribution received, Form460 ScheduleA.Oct 27, 2026Yes on C - San Franciscans for Affordable Homes, sponsored by the NPH Action Fund · supportFiled Oct 30, 2026

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 C - San Franciscans for Affordable Homes, sponsored by the NPH Action Fund

support · 2026-10-18 to 2026-10-28

Reported period cash receipts
$70,000
Reported period cash disbursements
$216,713.22

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).

Official disclosure resources

Sources

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