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produced by the fund's investments is distributed to the state's public school districts (in proportion to their average daily student attendance), but the fund itself may not be spent; this provision ensures that the fund will continue to grow, and its revenues will be available for Texas public
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which changed the fund's name to the
Permanent School Fund and transferred half of the public lands owned by the state to the fund as its new endowment. The 1876 constitution also tasked the General Land Office with the management of these lands and the fund.
251: (1960) that Texas was in the unique position of owning territory out to three leagues (10.35 miles) from its coastline. These lands were also added to the Permanent School Fund, further enlarging its assets.
146:. Its assets include many publicly owned lands within Texas and various other investments; as of the end of fiscal 2020 (August 31), the fund had an endowment of $ 48.3 billion. The fund is distinct from the
233:, which returned to the States the navigable territorial waters that had been historically the property of the States. Because Texas's historical territorial waters originated with its period as a
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established the
Special School Fund (a predecessor to the Permanent School Fund), intended to fund the state's public school system. The fund was
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with $ 2 million taken from the money paid to Texas by the federal government in return for Texas's claimed territory in what are now parts of
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are collected on natural resource extraction on these lands. Royalties on oil and gas extraction are the fund's major source of revenues.
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Page at the cited URL contains a link to the most recent annual report in PDF format; click on "I Agree" to download.
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The
General Land Office then reinvests these revenues and manages the investments. The
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The lands and other assets in the fund are managed by the
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131:which serves to provide revenues for funding of
229:In 1953, the United States Congress passed the
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272:"Texas Permanent School Fund: Annual Report"
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362:McClellan, Michael E. (15 June 2010).
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374:Texas State Historical Association
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239:United States v. Louisiana (1960)
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95:US$ 48.3 billion (August 2020)
16:Sovereign wealth fund in Texas
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304:"Texas Permanent School Fund"
20:Texas Permanent School Fund
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221:, in 1876 Texas enacted a
152:University of Texas System
411:Texas General Land Office
341:Texas General Land Office
168:Texas General Land Office
148:Permanent University Fund
369:Handbook of Texas Online
364:"PERMANENT SCHOOL FUND"
336:"Permanent School Fund"
186:History and enlargement
182:schools in perpetuity.
401:Sovereign wealth funds
309:Texas Education Agency
277:Texas Education Agency
190:In 1854 an act of the
39:Institutional investor
129:sovereign wealth fund
125:Permanent School Fund
29:Sovereign wealth fund
231:Submerged Lands Act
142:in the US state of
140:secondary education
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406:Education in Texas
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172:mineral royalties
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90:Total assets
72:Headquarters
25:Company type
64:Act of the
395:Categories
255:References
213:After the
200:New Mexico
162:Management
123:The Texas
215:Civil War
208:Oklahoma
204:Colorado
179:interest
154:and the
35:Industry
196:endowed
136:primary
110:Website
61:Founder
53:Founded
379:13 May
347:13 May
315:13 May
284:26 Jan
133:public
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144:Texas
127:is a
104:Texas
100:Owner
45:Genre
381:2015
349:2015
317:2012
286:2021
246:U.S.
217:and
206:and
138:and
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56:1854
242:363
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