^I'll just add that while it is technically feasible to have the height limit increased at the state level, all the parties with actual authority over the issue have little incentive to change things. The current limit was the result of a decades long negotiation between the city, Caltrans, and the FAA between the late 60s and the early 90s. The city fought for every inch of height it could have for downtown and at this point the FAA and Caltrans have shown
very little interest in changing things.
The only city in the US that has taller buildings in close proximity to its airport is Boston, and that's only because they're the ones who started this whole mess in the first place by building a 700'+ skyscraper less than four miles from their airport in the 60s. So while it would be theoretically possible to have the regulations changed through a CA state assembly bill, and I believe it would be safe based on international experience, the chances of it happening are exceedingly unlikely.
@Streamliner: I know, but at least there's a silver lining. No one's going to take the "setting a precedent for skyscrapers on the coast" argument seriously when there's a tower just a foot shorter next door.
@202_Cyclist: I personally tend to place KSAN's capacity limit at ~45 million or more rather than 40 million, but I'm an optimist