Amendment B: More money for schools, at no cost to taxpayers

THE OTHER CONSTITUTIONAL AMENDMENT: AMENDMENT B MEANS
MORE MONEY FOR UTAH SCHOOLS AT NO COST TO TAXPAYERS

Endorsed by the Utah PTA, Utah State Board of Education, and other educational associations, Amendment B increases the limit on annual School LAND Trust Distributions from the State School Fund.

There are two very different education funding amendments on the Utah ballot this November. Amendment B is supported by the Utah State Board of Education, and Utah PTA is encouraging Utahns to vote FOR Amendment B to increase funding for Utah schools at no cost to taxpayers.

Every Utah public school student, including those attending charter schools, receives annual education funding in the form of School LAND Trust Distributions from the $3.3 billion Permanent State School Fund. With a 4% distribution cap in place this school year, Utah schools received $106 million in trust distributions.

Amendment B proposes to increase the cap on distributions from 4% to 5%, which would increase annual distributions approximately 13% or $14 million. Raising the cap from 4% to 5% costs taxpayers nothing, it simply increases the cap on distributions from the permanent public education endowment.

Both the 2023 Utah House and Senate unanimously approved House Joint Resolution 18 Proposal to Amend the Utah Constitution – State School Fund to place Amendment B on the 2024 ballot.

“Utah PTA encourages Utahns to vote FOR Amendment B this November,” said Corey Fairholm, Utah PTA President. “Not only does Amendment B mean more money for Utah students, these funds support teachers, and involve parents in determining how School LAND Trust Funds are used at their child’s school.” Each individual School Community Council, comprising the principal, teachers, and parents, evaluate academic data to determine the best use of School LAND Trust Funds at its school.

Growing annually, School LAND Trust Distributions from the Utah Trust System augment traditional education funding. The Permanent State School Fund has grown enormously over the past 30 years thanks to revenue produced from school trust lands, and prudent investment by the School and Institutional Trust Funds Office (SITFO).

“Through careful analysis, SITFO has determined the Permanent State School Fund endowment is currently favoring future generations more so than our current generation of students,” said Land Trusts Protection & Advocacy Director Kim Christy. “Increasing the cap to 5% provides appropriate balance and will provide more money for today’s students, while still allowing for growth and protecting this endowment for future generations.”

Amendment B is supported by:
Utah PTA
Utah State Board of Education
Utah School Boards Association
Utah School Superintendents Association
Utah Rural Schools Association
Utah Treasurer Marlo Oaks

Voters may visit raisethecap.utah.gov to learn more about Amendment B.