HJR 151: Education Funding Increase | (Joint Resolution)
Interest groups
Supporters
School Board of Education
The General Land Office's land investments in the Permanent School Fund are making more money than the current $3 million amount that is available to the Available School Fund.
This policy will make the General Land Office and State Board of Education work together, resulting in more funding for schools and better relations between the organizations.
Public Schools wanting more funding
Improved funding for public schools when enough money is available.
The State Board of Education and General Land Office could donate more of the money that they receive from the Permanent School Fund investments to the Available School Fund.
Opponents
General Land Office
The General Land Office will be contributing more to the Available School Fund than the School Board of Education.
The State Board of Education will distribute less money to the Available School Fund, due to less money being in the Permanent School Fund.
Those thinking about the future consequences
This policy will result in lower schools funding in the long term because there will be less money left for investments.
Less money invested means less money being made in revenue.
Legal Foundations
What the School Board of Education and General Land Office are supposed to do
The School Board of Education manages the financial investments for school funding.
The General Land Office manages the real estate investments for the permanent school fund.
The School Board of Education and General Land Office priodically distribute the permanent school fund into the available school fund.
Article VII of the constitution is about education.
Change is being made to Section 5(g), Article VII in the Texas Constitution.
What the Policy says
The policy states that the available school fund will be increased. More specifically, the available school fund will increase from $3 million to $6 million, clearly a significant increase.
The General Land Office will still be able to manage revenue from the Permanent School Fund.
The School Board of Education will also be able to distribute the revenue from the Permanent School Fund.
Goals and Outcomes
GOAL: The goal of the policy is to increase the available school fund from $3 million to $6 million.
Proposition discussed in public hearing
1,459,578 in support of the proposition and 509,590 not in support of the proposition
Signed by House and Senate
Filed by Secretary of State