The Texas Permanent School Fund is a sovereign wealth fund established in 1854 to generate revenue for public primary and secondary education in Texas, administered by the Texas General Land Office. Its holdings include state-owned lands and a range of investments, together totaling 48.3 billion US dollars as of August 2020, with oil and gas royalties from land sales, leases and mineral rights serving as its primary revenue source; investment returns are distributed to Texas school districts in proportion to student attendance while the fund's principal is protected in perpetuity. It is distinct from the Permanent University Fund, which supports only the University of Texas and Texas A&M university systems.
Facts
Partially Attested
Founding YearWikipedia infobox gives 1854, but the Texas State Historical Association says 1854 was the predecessor Special School Fund and the Permanent School Fund itself was established by the 1876 Constitution Classification
Institution Subtype Headquarters Geography
Country or Jurisdiction Served In the Other Atlases
- Also in Geography Atlas: Texas, located there.
Sources
1. Wikipedia: Permanent School Fund (Texas Permanent School Fund)
Infobox, Founded
1854
Infobox, Headquarters
Austin, Texas, U.S.
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