By CBSLA Staff

LATEST ELECTION UPDATES

LOS ANGELES (CBSLA) — California voters have approved Proposition 14, authorizing $5.5 billion in bonds for stem cell research, the Associated Press projected Thursday.

With 93.14% of precincts reporting, the measure won by a margin of 51.03% to 48.97% — a difference of 324,754 votes.

With 93.14% of precincts reporting, the measure won by a margin of 51.03% to 48.97% — a difference of 324,754 votes.

“The success of Prop. 14 sends a clear message from California voters that one of the most important investments our state can make is in the future health of our families,” Robert and Danielle Klein, Chairs of Californians for Stem Cell Research, Treatments and Cures, said in a statement. “Over the past decade, California has made incredibly thoughtful and impactful investments in developing stem cell therapies and cures for diseases and conditions like diabetes, cancer, blindness, Parkinson’s, paralysis and many more; now we know this progress and work to mitigate human suffering, restore health and improve the human condition will continue.”

The $5.5 billion would be in addition to $3 billion that voters approved in 2004 and would be repaid through the state’s general fund at an average cost of roughly $260 million per year for 30 years.

Of the money generated by the bond measure, $1.5 billion is slated for research and therapies for brain and nervous system conditions such as Alzheimer’s, Parkinson’s and stroke.

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