Texas Permanent School Fund to be plundered?
The Permanent School Fund is a fund set aside for the education of the school children of Texas. Fortunately, this money can not be touched by the Texas Legislature. Hoever, that has not kept them from trying over the years. Does the following describe another attempt on the PSF?
In the annual charge to the Senate, the Lt. Gov. has asked the Senate Education Committee to: #3. "Review the operation of the State Board of Education, including its oversight of the Permanent School Fund, and make recommendations, if necessary, for appropriate legislature oversight and review".
This appears to be an ill disguised legislative attempt to assume control and management of the $20 Billion PSF. Without the oversight by the State Board of Education (SBOE) the PSF would not be a $20 billion fund generating over $800,000 a year. From 1854 to1876...the "School Fund" was under the legislature and was almost depleted by 1876. Our forefathers, created the Permanent School Fund to be solely managed by the SBOE. Separation of powers! Dedicated to the school children of Texas for free textbooks each year.
In the annual charge to the Senate, the Lt. Gov. has asked the Senate Education Committee to: #3. "Review the operation of the State Board of Education, including its oversight of the Permanent School Fund, and make recommendations, if necessary, for appropriate legislature oversight and review".
This appears to be an ill disguised legislative attempt to assume control and management of the $20 Billion PSF. Without the oversight by the State Board of Education (SBOE) the PSF would not be a $20 billion fund generating over $800,000 a year. From 1854 to1876...the "School Fund" was under the legislature and was almost depleted by 1876. Our forefathers, created the Permanent School Fund to be solely managed by the SBOE. Separation of powers! Dedicated to the school children of Texas for free textbooks each year.
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