There are two propositions on the ballot: propositions 98 & 99. Both deal with eminent domain, and based on the ballot title both would prevent eminent domain for taking private property for private uses.
However, the proponents of each initiative think that only their initiative gives the desired result. Proposition 98, according to its proponents, enacts real eminent domain reform while proposition 99 was passed by the legislature only to confuse the voters. If you believe proposition 99's proponents, it's the other way around: proposition 98 would cost local government too much while proposition 99 would bring real reform.
No matter what, come Tuesday exercise your right and vote. You can find your polling here.