Amending the Constitution to Increase the Amount of Principal that is Available for Withdrawal from the Permanent School Fund Each Year

Texas Ballot Measure - Proposition 6 (SJR 26)

Election: Nov. 8, 2011 (General)
Outcome: Passed

Yes: 346023  (51.57%)
No: 324904  (48.43%)

Categories:

Summary

HJR 109 would amend the constitution to increase the amount of principal that is available for withdrawal from the permanent school fund each year and would also clarify certain references to that fund in the constitution. Increased access to the principal of the state public education trust fund would be based upon HJR 109 granting the authority to consider alternative market calculations when determining the amount of principal that is available for distribution to the available school fund. HJR 109 would also provide authority to distribute to the available school fund annual revenue from school fund land or other properties up to $300 million per year.

Measure Text

The constitutional amendment clarifying references to the permanent school fund, allowing the General Land Office to distribute revenue from permanent school fund land or other properties to the available school fund to provide additional funding for public education, and providing for an increase in the market value of the permanent school fund for the purpose of allowing increased distributions from the available school fund.