SAN FRANCISCO (CBS/AP) — Proposition 45, which asked voters if they want the state insurance commissioner to regulate health care rates for small businesses and individual health plans, appeared to be heading toward defeat Tuesday.

As of 10:44 p.m., with 36% of precincts reporting, No votes outnumbered Yes, 1,889,753 to 1,247,287.

READ MORE: Hertl’s Hat Trick Leads Sharks Past Flames, 5-3


READ MORE: COVID: High Demand For Vaccines, Boosters Strains Staffing At San Mateo Clinic

Initiative proponents, led by Democratic Insurance Commissioner Dave Jones and Consumer Watchdog, a Santa Monica-based consumer group with backing from attorneys, said the initiative would add transparency to the rate-setting process and force health insurance companies to justify their decisions.

Opponents, including a coalition of hospitals, doctors and firefighters with major funding from health plans, said it would have a detrimental effect on California’s ability to deliver lower-cost health coverage under the Affordable Care Act. They said it’s a flawed initiative that would give too much power to the insurance commissioner.

MORE NEWS: Firm Once Owned By 'Pharma Bro' Shkreli To Pay $40 Million To Settle Price Gouging Lawsuit

TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report