CA SB895

Authorizes $23 billion in general obligation bonds for the California Science and Health Research Bond Act, subject to voter approval at the next statewide general election.

Establishes the California Foundation for Science and Health Research within the Government Operations Agency to award grants and loans to public and private universities, research companies, institutes, and organizations for scientific research and development.

Funds research in biomedical fields (cancer, Alzheimer's, Parkinson's, ALS, heart disease, HIV/AIDS, infectious diseases), behavioral health, climate change, wildfire prevention, ocean and coastal ecosystems, agriculture, water, and emerging technologies.

Creates an 11-13 member California Foundation for Science and Health Research Council appointed by the Secretary of Government Operations, Senate Rules Committee, and Speaker of the Assembly to set research priorities and approve funding through a competitive peer review process.

Limits administrative costs to 3% of fund moneys and requires annual independent financial audits reviewed by the Controller, with priority given to established research projects where federal funding has been canceled.