Change In State Agencies Proposed For Permanent School Fund

Change In State Agencies Proposed For Permanent School Fund

A bill filed Wednesday, Senate Bill 1659, could transfer funding from the School Land Board to the Texas Education Agency.

All revenue received from mineral or royalty interests, including bonus payments, surface lease revenues, royalties and any other type of revenue received from those interests, would be transferred each month to the State Board of Education for investment in the Permanent School Fund.

The land board, a division under the General Land Office, would no longer use revenue generated from the land and mineral rights to make its own investments in real estate, infrastructure, energy, minerals and land.

A portion of the earnings in the more than $40 billion Permanent School Fund is sent to Texas public schools every year for instructional materials, technology and day-to-day operating expenses.

This story originally published by Strategic Partnerships, Inc.


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