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Relating to the acquisition and management of certain real property assets by the School Land Board for the use and benefit of the permanent school fund and the transfer of certain permanent school fund assets from the control of the School Land Board to the State Board of Education.
Due to uncertainty regarding the nature of future returns, the fiscal implications of the bill cannot be determined at this time.
SB 1659 would require revenue from selling land and from mineral and royalty interest to be invested into the Permanent School Fund (PSF). This bill would require the School Land Board (SLB) to divest itself from all interests in assets by September 1, 2023 unless divesting from an asset would cause substantial loss to the PSF. Additionally, this bill changes reporting requirements for the SLB.
Texas Action remains neutral on SB 1659 which does not appear to have a connection to our liberty principles.