November vote to influence future of California finances.

This election season in California is all about propositions, as voters will be faced with 16 measures on Nov. 2.

With two initiatives to expand Indian gaming, a referendum on a law requiring employers to provide health care for their workers, a $3 billion stem-cell research bond measure, and two taxes to fund health care-related services, the ballot could influence the state's economic fortunes for years to come.

The stakes are so high that the California Chamber of Commerce is co-chairing two initiative campaigns: the referendum on health care and a law restricting litigation against employers. The Chamber is also involved in the campaign against a phone tax surcharge to fund emergency room services.

"This ballot is fight up near the top in terms of total impact on the state's economy," said Bob Stern, president of the Center for Governmental Studies.

The measure with the most potential impact is Proposition 72, the referendum on the employer health care mandate known as SB 2. Carried by Sen. President pro-tempore John Burton, D-San Francisco, then-Gov. Gray Davis signed the bill just three days before last October's recall election drove him from office.

Under the law, by 2007 all employers with more than 50 workers would have to provide health care or pay into a state fund that would care to the uninsured. Employers with 20 to 49 workers would be phased in after 2007.

When the legislation passed, the state chamber sought its repeal, maintaining that it would place an excessive burden on employers. After considering a court challenge, the chamber opted to place a referendum on the ballot, which is essentially an up-or-down vote. The chamber then began raising millions of dollars to campaign against the measure, with a target of $15 million by Election Day.

In two opinion polls released earlier this month, Prop. 72 fell just short of majority approval, though only one-third of likely voters polled had beard of the measure previously.

Another controversial measure, Proposition 64, would limit the ability of private individuals to file suit against corporations under the state's "unfair business competition" law. Any such lawsuits would have to be brought by public prosecutors or initiated by regulatory agencies.

Business groups allied with the Civil Justice Association of California sought to place the measure on the ballot after reports surfaced of law firms shaking down employers for upfront settlements. One firm, Beverly Hills-based Trevor Law Group, became infamous for threatening to file such suits. The firm was disbarred and has since dissolved.

Prop. 64 proponents claim the current law stifles business growth by forcing companies to divert resources to fight or settle frivolous litigation.

Those who oppose the measure claim it goes too far and would essentially prohibit the filing of lawsuits that hold corporations accountable for their actions. The opponents favor a more narrowly focused measure that would require judges to approve all settlements.

Proponents face an uphill battle: a Field Poll released earlier this month shows the measure garnering only 41 percent support.

As of June 30, business groups, including one representing auto dealers, had raised $7 million; opponents have yet to file their campaign statements.

"The key is going to be how much money the trial lawyers raise," Stern said. "They don't have to raise as much as the proponents, but they have to raise enough to be heard amid the clutter."

Two other initiatives that could have broad impacts on the California economy are Propositions 68 and 70, which would expand casino-style gaming in California.

Proposition 68 is a bid by card clubs and racetracks to break the Indian tribe monopoly on casino-style gaming. It would set up 30,000 slot machines at select card clubs and racetracks, unless Indian tribes agreed to turn over one-third of their gaming revenues to the state.

Proposition 70 is a counter-measure by a coalition of Indian tribes. It would allow tribes to operate an unlimited number of casinos in the state in return for paying the corporate tax rate of 8.84 percent on the revenues from the casinos.

If either measure passes, the spread of casino-style gaming could pump billions of dollars into local and state coffers and revitalize blighted areas. But those benefits could come at a cost in law enforcement and social problems related to gambling.

So far, voters are not buying either measure. The Field Poll found that less than one-third of likely voters supported either proposition. What's more, Gov. Arnold Schwarzenegger has pledged to campaign against both, because the passage of either measure would void the agreements he's reached with a separate coalition of five Indian tribes.

Another measure with a potential beneficial economic impact is Proposition 71, the $3 billion bond measure to fund stem cell research. The state chamber and several local chambers support the measure because of the potential boost it would give to the state's biotech industry.

But stem cell research is highly controversial, with intense opposition from religious groups. In the Field Poll, voters were sharply divided, with 45 percent supporting and 41 percent opposing the measure.

The key, Stern said, is the degree to which the opposition is politicized--which will depend on Schwarzenegger's stance.

Several other measures would have narrower impacts. For example, Proposition 63 would impose a 1 percent surtax on millionaires to fund mental health programs. A Public Policy Institute of California poll taken earlier this month showed 66 percent support for the measure: the Field Poll showed 59 percent support.

"The battle here will be whether the argument that millionaires will flee the state will win out over emotional appeals for more funding for these programs," Stern said.

Finally, Proposition 67 would levy a 5 percent surcharge on phone bills to raise about $500 million a year for emergency room and related services. Proponents say the funds are desperately needed to avoid further closures of emergency rooms; opponents say there's no guarantee all the funds would go to ERs.

In the Field Poll, only 37 percent of likely voters supported the measure, while 47 percent were opposed. That's no surprise considering that opponents--including small business groups, telecommunications companies and the state chamber--have raised more than $5 million to date. Proponents got off to a slow start alter the California Medical Association withdrew its support.

Initiatives take the center of attention because most of the candidate races are near-runaways. Democratic Sen. Barbara Boxer holds a double-digit lead over her Republican challenger, former California Secretary of State Bill Jones. Only about a dozen of the legislative races figure to be hotly contested, though three of those are in L.A. County.

And with the state widely expected to cast its lot with Democratic presidential candidate Sen. John Kerry, California is not one of the 17 or 18 battleground states in the presidential election.