Second Half of the State Legislature Underway

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(KNOX) – As the second half of the Legislature begins, one focus in the near future will be a small pile of proposed constitutional amendments, including one of interest to educators.

HCR3035, would set aside $3 billion from state trust funds for school construction over 10 years. Under its terms, the Common Schools Trust Fund, which had $7.3 billion in assets as of Oct. 31, 2024, would supply more than 90 percent of that money.

The state Department of Trust Lands oversees 14 trust funds, including the Common Schools fund, which is financed by leasing of grazing and mineral rights; oil taxes; royalties and bonus payments from production of oil, gas, coal and other minerals produced on state lands; and earnings from the fund’s investment portfolio.

The Common Schools fund, which was established at statehood to benefit public schools, has accounted for an increasing share of the state per-student payments that benefit K-12 education. Schools use the payments for teacher and administrator salaries and other operating expenses.