**Proposition 45, the citizen-initiated measure on California’s November 3, 2026 ballot, would amend the California Environmental Quality Act to establish binding deadlines for environmental reviews, permitting, and court challenges on defined “essential” projects such as most housing, clean energy, water infrastructure, transportation, broadband, and wildfire mitigation.** Sponsored by the California Chamber of Commerce, the initiative narrows alternatives analysis, caps public comment periods, limits evidence and remedies in litigation, and allows applicants to opt into the streamlined track. Business and development interests support it to reduce delays and costs, while environmental organizations oppose it for curtailing public participation and agency discretion. Recent legislative CEQA updates signed in September and October 2026 addressed targeted streamlining in areas like wildfire projects and data centers through statute rather than ballot reform. With the election three weeks away and no decisive polling shift evident, trader pricing reflects the measure’s divided stakeholder base and historical challenges for complex environmental-policy initiatives.