Arizona’s Prop 123 Money Goes to More Than K-12 Schools
By Christopher Conover • Arizona Public Media
Universities, prisons, juvenile justice and state hospitals are all beneficiaries of larger payouts from the state land trust fund, thanks to voter passage of Proposition 123.
The proposal was billed as a way to get more money into Arizona classrooms without raising taxes. It increases the payout from the state Land Trust Fund from 2.5 percent annually to 6.9 percent annually for 10 years starting with the fiscal year that begins Friday.
Included in the plan is a $191.5 million payout this week, before the end of the fiscal year, to the 12 institutional areas that have been part of the Land Trust Fund since statehood in 1912.
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Category: Education
