It would have cost that much if the proposal passed. However, more than 60 percent of California voters cast their ballots to reject prop 10. It turns out the proposition was proposed and largely funded by one T. Boone Pickens who not surprisingly stood reap huge rewards if it passed. Pickens and his allies spent over $23 million on their campaign while opponents spent only $170,000. Opponents revealed that much of the money from the proposal would be used to pay for natural gas conversions for vehicles, part of the "Pickens Plan" that the billionaire has been promoting for months.
[Sources: The Auto Channel, California Progress Report]