Will the proposed California wealth tax take substantive effect?

Prediction market on manifold. This question will resolve YES if and only if the "2026 Billionaires Tax Act" gets on the ballot, passes, and is upheld by the courts (any legal challenges fail) such that the tax has actually taken effect, and significant (at least $1B) revenue has been collected, by December 31, 2027. If legal challenges succeed in striking down the act, or are unresolved by December 31, 2027 such that the tax is suspended and hasn't taken effect yet and its eventual effect is uncertain, the question resolves NO.

24h Volume: $9.716. Liquidity: $1,000. Resolves: 12/31/2027.