MINNESOTA PUBLIC SCHOOL STUDENT
EVERY
IS PART OF A TRUST FUND.
This fall Minnesotans have the opportunity to vote to update our state’s constitution to pass an amendment to improve how Minnesota’s Permanent School Fund supports students, schools, and communities.
Without increasing existing taxes or costing Minnesotans more money.
WHAT
IS THE PERMANENT SCHOOL FUND?
Minnesota's Permanent School Fund was established when Minnesota became a state in 1858. It was created to support public education through revenues generated from school trust lands and investments held for the benefit of Minnesota students.
TOP
TEN QUICK FACTS TO KNOW
1
THE PERMANENT SCHOOL FUND HAS EXISTED SINCE 1858
It was created when Minnesota became a state to provide long-term support for public education.
2
THE FUND ALREADY BENEFITS PUBLIC SCHOOLS.
Every public school district, charter school, and tribal school currently receives funding from the fund.
3
THE FUND HAS GROWN SIGNIFICANTLY
The fund has grown from approximately $675 million in 2010 to more than $2.3 billion today, but distributions have not kept pace because of outdated constitutional restrictions.
4
THE AMENDMENT IMPROVES THE DISTRIBUTION FORMULA AND DOES NOT RAISE TAXES
The proposal simply updates how annual distributions are calculated. It does not increase property taxes, income taxes, sales taxes, or any other tax.
5
6
THE FUND REMAINS DEDICATED TO PUBLIC EDUCATION
The amendment does not change the purpose of the fund.
EVERY DISTRICT WILL BENEFIT
Funding would continue to be distributed to ALL school districts, charter schools, and tribal schools throughout Minnesota.
7
THE PROPOSAL RECEIVED BROAD BIPARTISAN SUPPORT
The recommendation originated from a nonpartisan task force established by the Minnesota Legislature to study the Permanent School Fund. Following its review, the task force unanimously recommended modernizing the distribution formula. The proposal then received strong bipartisan support in both the Minnesota House and Senate before being placed on the ballot.
8
VOTER APPROVAL IS REQUIRED
Because the current formula is contained in the Minnesota Constitution, voters must approve any changes.
9
A BLANK VOTE IS A NO VOTE
For Minnesota constitutional amendment votes, if a voter skips this question, it is counted as a "no" vote.
10
THE GOAL IS TO SUPPORT BOTH CURRENT AND FUTURE STUDENTS
The proposal was developed to increase support for today's students while maintaining the fund as a long-term resource.
IS THIS ON THE BALLOT?
WHY
Minnesota's Permanent School Fund was created nearly 170 years ago. While the fund has grown significantly over time, the way money is distributed from the fund has not kept pace with modern investment practices.
The constitutional amendment would allow Minnesota to modernize the distribution formula so more earnings from the fund can support students today while continuing to preserve the fund for future generations.