Ducey: Take $1.8B From State Land Trust for Education

| June 9, 2015

By Christopher Conover • Arizona Public Media

Gov. Doug Ducey proposed Thursday taking $1.8 billion from the State Land Trust Fund for K-12 education in the next five years.

The plan would require approval of legislators and state voters, and it comes amid ongoing criticism of the Republican governor and Republican-controlled Legislature for their cuts to education in the budget for next fiscal year.

The State Land Trust Fund was set up in 1912 at statehood to help fund education and other programs. It included 10 million acres deeded by the federal government to the state, with sale or lease of the land providing the trust’s proceeds.

The trust now has 9.2 million acres, and the current voter-approved formula allows a payout of 2.5 percent of the fund balance annually. Last year, that payout was about $80 million, divided equally among school districts based on enrollment. That comes to about $72 for each of Arizona’s 1.1 million public school students.

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Category: Education

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