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The Minnesota Permanent School Fund amendment would support schools statewide without raising taxes
On Nov. 3, Minnesota voters will be asked to vote on a constitutional amendment to distribute more funds to public schools via the permanent school fund without raising taxes.
The Minnesota House voted unanimously across party lines to send the amendment to voters.
Here’s what you will see on your ballot: “Shall the Minnesota Constitution be amended to increase the funding going to all school districts from the permanent school fund, which is a fund that supports school districts without raising individual income or property taxes, effective July 1, 2027?”
In order for the amendment to pass, a majority of Minnesotans must vote “Yes.” If voters leave the box blank, their ballot will be counted as a “No” vote.
If passed, funds from the Minnesota Permanent School Fund will be awarded to all public schools, including public charter and tribal schools.
Why won’t the amendment increase taxes? It’s an interesting backstory.
The money comes from trust funds invested by the state of Minnesota since 1858. In the early days of our state’s history, the state government began collecting money generated by the development of natural resources (lumber, mining, etc.) The intent was to use the funding to help support schools. Funds generated by this process are called The Permanent School Fund (PSF), which is one of the oldest sources of public education funding.
The fund continues to grow from development of public lands and interest generated by fund investments over the years. A non-partisan taskforce appointed by the Legislature oversees the fund and determines its use.
This year, State legislators strongly supported an amendment to update how money generated by the Permanent School Fund will be used. If passed, instead of a 2-2.5% annual distribution, schools would receive a 4.5% distribution of money generated by fund investment. Schools would receive slightly over $100 per pupil, instead of the estimated $68 they currently receive.
Detailed information can be found on the Minnesota Permanent School Fund website. The Secretary of State website also describes the amendment.
Voting resources:
