Voters May Boost School Funding with Key Amendment this Fall

UNDATED (WJON News) -- Schools across the state could receive a financial lift this fall. People will vote on a state constitutional amendment to provide schools with additional money from a land trust fund.

The amendment will increase the percentage being distributed to schools.

The Minnesota Alter Management and Investment Policies for Permanent School Fund Amendment will amend the state constitution to allow a distribution of 4.5% of the fund's three-year rolling average value. Currently, the rate is 2.5%.

Fluence Media Political Analyst Blois Olson says passing of the amendment would have no financial impact on residents:

"This is money that was put in trust from our public lands, and so, for instance, if the state sells more public land, the proceeds from that sale go into this fund, and so it has no impact on the bottom line of your taxes."

Olson says the original amendment dates back to the mid 1800s, and the November question is balancing out the distribution formula based on current inflation.

ROCORI Superintendent Kevin Enerson says if the amendment were to pass, it would be a big boost for all schools:

"They don't have a lot of good news for more revenue; it's more like reductions in revenue, probably for us coming next year, but this is one where we can get a few more funds and some revenue coming in."

Enerson says if the amendment passes, it would mean about $40 more per student for school districts. Voters will go to the polls on November 3rd.

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READ MORE FROM AUTHOR PAUL HABSTRITT