San Francisco · Charter amendment · Nov 3, 2026
Proposition B: Municipal finance corporation and public bank
Proposition B is on the Nov 3, 2026 ballot in San Francisco. This page summarizes the official documents; every statement links to its source, and we take no position on how you should vote.
The question on your ballot
“Shall the City amend the Charter to authorize the City to establish a municipal finance corporation and a public bank?”City Attorney letter to the Director of Elections: November 3, 2026 Ballot Questions · Aug 7, 2026
A YES vote means
A YES vote means you want to authorize the City to establish a municipal finance corporation and a public bank.
A NO vote means
A NO vote means you do not want to authorize the City to establish a municipal finance corporation and a public bank.
What it takes to pass
This measure requires 50%+1 affirmative votes to pass.
The money
The Controller's statement says the amendment would not directly impact the cost of government because it does not require the City to create a Municipal Finance Corporation.
The Controller's statement says that if the City establishes a Municipal Finance Corporation and subsequently a Public Bank, the costs would range from approximately $310 million to $460 million over an eight-year period, according to 2023 Reinvestment Working Group estimates.
The Controller's statement says an MFC Oversight Commission or Bank Oversight Commission could cost between $550,000 to $600,000 annually for staff salaries, commissioner stipends, and operating costs.
How it got on the ballot
On July 7, 2026, the Board of Supervisors voted 9 to 2 to place Proposition B on the ballot.
The official arguments
These are the arguments filed with the county for the official voter guide. They are written by their authors, not by the city or by us. We summarize what each says, not whether it is accurate.
Argument in favor
Says Proposition B ensures a public bank is fiscally responsible, independent from political influence and run by banking professionals, with a public oversight body, and that it is not a tax and will not raise taxes.
Signed by The San Francisco Foundation; San Francisco Public Bank Coalition; Supervisors Chyanne Chen, Bilal Mahmood, Myrna Melgar, Rafael Mandelman, Jackie Fielder, Shamann Walton; San Francisco Labor Council; San Francisco Climate Emergency Coalition; Affordable Housing Alliance; San Francisco Tenants Union
Argument against
Says Proposition B creates a City Hall-controlled public bank and municipal finance corporation without dedicated funding, adds bureaucracy and political risk, and leaves taxpayers with later costs.
Signed by No on Prop B - San Franciscans for Fiscal Responsibility; Leslie Huang, Dorothy Joan Leone, Stephanie Jeong, and Kathleen Louise Trewin
Read the official documents
Neighbor opinions
Where do you stand on Municipal finance corporation and public bank?
Opinions from people who signed in. Not a poll, not a vote, and not our endorsement. We don't check where anyone lives. Your name is never shown.
Keep going on your San Francisco ballot
- Board of Supervisors, District 2: 4 candidates
- Board of Supervisors, District 4: 3 candidates
- Board of Supervisors, District 6: 2 candidates
- Board of Supervisors, District 8: 4 candidates
- Board of Supervisors, District 10: 10 candidates
- Proposition A: Charter changes affecting various city departments and commissions
- Proposition C: Contributions to the Housing Trust Fund
- Proposition D: Changes to ballot measure process
- Proposition E: City Administrator's authority and changes to city contracting
- Proposition F: Changes to Executive Branch Management
- Proposition G: Allowing Private Vehicles on the Upper Great Highway in Sunset Dunes Park
- Proposition H: Parcel Tax to Fund Muni Operations
- Proposition I: Changes to Real Property Transfer Tax
- Proposition J: Removal of Foreclosure Exemption for Real Property Transfer Tax
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- See my ballot plan
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