The Texas Permanent School Fund (Fund) and its managers, the State Board of Education (Board), have become the focus of much critical attention over the past decade. Forever seeking greater sources of funding, the Texas Legislature has attempted to exercise greater control over the Fund to meet the State’s short-term needs for revenue. On the other hand, the Board has sought to accommodate the legislature while fulfilling its duty of protecting and growing a permanent, perpetual endowment fund.
Taxes & Spending
After Tuesday’s Elections, Texas Can Take a Bow
On Tuesday, Texas voters overwhelmingly approved Proposition 4, a constitutional amendment to increase the residence homestead exemption for school district purposes from $40,000 to $100,000. With 99% of precincts reporting, voters approved of the measure by a margin of 83.4% vs. 16.6%. The passage of Proposition 4 cements the Legislature’s $18 billion tax relief package,...
November 8, 2023