What Are Trust Lands?
The U.S. Congress, in exchange for not taxing federal land, gave lands to Utah
schools at statehood. The lands are held in a legal trust for our schools.
Schools own 3.3 million acres. The lands are managed by the School and
Institutional Trust Lands Administration and must, by law, be used to generate
money for our schools. The money is put in a permanent savings account, which is
never spent, but invested by Richard Ellis, Utah's State Treasurer. An
Investment Advisory Committee appointed by education representatives act in an
advisory capacity to the State Treasurer. The interest earned from the permanent
fund now goes to each school in the state. Your school will get its share of
the Trust Lands money because of a bill sponsored by Representative Mel Brown
and Senator David Steele, which passed the 1999 Legislature and was signed by
Governor Leavitt. Your education leaders in PTA, UEA, School Boards, the State
Board of Education, as well as superintendents and principals, have worked
diligently for decades to give this opportunity to you -- use it wisely.
|
