Minnesota Voters to Decide on Permanent School Fund Amendment this Fall
Minnesota Voters to Decide on Permanent School Fund Amendment this Fall
This November, Minnesota voters will consider a proposed constitutional amendment related to the Permanent School Fund, a resource that has provided financial support to public schools across Minnesota since the state was established in 1858. The fund has grown to more than $2.3 billion through revenue generated from school trust lands and investment earnings.
The proposed constitutional amendment would update how annual distributions from the fund are calculated — without creating or increasing taxes — while also establishing protections intended to preserve the fund for future generations.
Understanding the Proposed Amendment
Here are a few key facts about the proposed amendment:
- It would not create or increase any taxes.
- It would update how fund earnings are distributed. The proposed amendment reflects modern trust and endowment management practices, and would increase support for public schools while preserving the long-term strength of the fund.
- It has bipartisan support. A nonpartisan legislative task force unanimously recommended modernizing the formula used to distribute funds, and the proposal received strong bipartisan support from state legislators.
- The fund supports public education statewide. The Permanent School Fund is a longstanding resource that benefits public schools throughout Minnesota.
If a voter skips over the amendment on their ballot this fall, it has the same effect of being a “no” vote. To preview what's on your ballot, including the exact wording of the proposed amendment, visit the Minnesota Secretary of State website.
What Would Change if the Amendment Passes?
If Minnesota voters approve the proposed amendment this fall, the purpose of the fund remains exactly the same: supporting Minnesota's public school students. What does change, however, is the method of fund distribution. Rather than 2-2.5% annual distribution, the amendment would increase that amount to an estimated 4.5% annual distribution. This means the amount per pupil also increases from $68 to approximately $101, providing greater financial support to public school districts, charter schools, and tribal schools — while ensuring the fund balance remains strong for future generations.
What Would Not Change if the Amendment Passes?
If the proposed amendment passes, most things would remain the same, including the fund itself and the school trust lands. Additionally, no existing taxes would be increased and no new taxes would be created. Every public, charter, and tribal school in Minnesota would continue to benefit from the fund.
