Proposing a constitutional amendment to create the Permanent School Fund Management Council to assume the duty of the State Board of Education to manage the permanent school fund.
Impact
If enacted, HJR85 would have a considerable impact on the operational structure of educational funding within Texas. By transferring the management of the Permanent School Fund to a specialized council, the bill aims to optimize returns on investment and ensure that the funds are being used in a manner that maximizes their potential benefits for public schools. This could lead to more rigorous investment strategies and potentially more resources allocated to education, significantly altering the funding landscape for schools across the state.
Summary
HJR85 proposes a constitutional amendment aiming to create the Permanent School Fund Management Council. This council would take over the responsibility of managing the Permanent School Fund from the State Board of Education. The amendment is designed to enhance the management of the fund by appointing members with substantial institutional investment knowledge, ensuring that the funds meant for public education are managed more effectively. This transition is seen as a significant change in how funds are allocated and managed for educational purposes in Texas.
Sentiment
The sentiment surrounding HJR85 appears to be generally supportive among stakeholders who prioritize efficient management of educational funds. Proponents argue that the proposed council will bring enhanced expertise and focus to the investment of the Permanent School Fund. However, there could be concerns from some quarters regarding the potential detachment of educational funding decisions from educational policymakers, raising questions about accountability and governance.
Contention
Notable points of contention include the debate over whether a council composed solely of investment experts can effectively understand and address the unique needs of public education. Additionally, there may be fears that the shift in management could lead to less transparency and community involvement in how educational funds are operated. Opponents may argue that educational decisions should remain closely tied to educational professionals who have direct experience in the field rather than purely financial experts.
Proposing a constitutional amendment dedicating to the national research university fund a portion of certain income from the lease for oil and gas exploration of land dedicated to the permanent university fund.
Proposing a constitutional amendment reducing The University of Texas System's share of the income and other benefits of the permanent university fund, transferring to the national research university fund and general revenue fund a portion of the annual distribution made from the permanent university fund to the available university fund, appropriating the portion transferred to the national research university fund, and dedicating the portion transferred to the general revenue fund to provide for the support and maintenance of public institutions of higher education.
Proposing a constitutional amendment to entitle all component institutions of The Texas A&M University System and The University of Texas System to participate in the income and other benefits of the permanent university fund.
Proposing a constitutional amendment creating the state school safety fund to provide financial support for projects that enhance the safety of public schools in this state.
Proposing a constitutional amendment providing for the creation of funds to support the capital needs of educational programs offered by the Texas State Technical College System and certain component institutions of the Texas State University System and repealing the limitation on the allocation to the Texas State Technical College System and its campuses of the annual appropriation of certain constitutionally dedicated funding for public institutions of higher education.
Proposing a constitutional amendment providing for the creation of the technical institution infrastructure fund and the available workforce education fund to support the capital needs of career and technical education programs offered by the Texas State Technical College System, the Lamar Institute of Technology, Lamar State College-Orange, and Lamar State College-Port Arthur.
Proposing a constitutional amendment creating the state school safety fund to provide ongoing financial support for projects that ensure the safety of public schools in this state and providing for the transfer of certain general revenues to that fund, the economic stabilization fund, and the state highway fund.
Proposes temporary constitutional amendment allowing State constitutional convention convened to reform system of property taxation to propose statutory changes.
Proposes temporary constitutional amendment allowing State constitutional convention convened to reform system of property taxation to propose statutory changes.