MinnesotaMinnesota voters will decide whether the school fund pays districts yearly
The law puts a constitutional amendment before Minnesota voters in 2026; if they approve it, school aid payments would use a formula tied to the fund’s recent value starting in 2027.
What it does
If voters approve the amendment, the permanent school fund would make yearly payments to school districts while aiming to preserve its buying power for future students.
The state board calculates the fund’s available amount for distribution as 4.5 percent of its average value over the previous three fiscal years.
If voters approve the amendment, the state transfers money available from the permanent school fund to the school endowment fund as needed for public school aid.
Argument forIf voters approve the amendment, districts could receive yearly support tied to the fund’s recent value, while the policy aims to preserve its buying power.
Argument againstA fixed percentage payout could leave less money invested for future districts in some years, even as the proposed policy aims to preserve the fund’s buying power.
More detail
The proposed amendment directs the fund to support annual payments to school districts while preserving its buying power over time. Payments would be divided among Minnesota school districts as provided by law. Voters must adopt the amendment for it to take effect. Reasonable and necessary costs to manage the fund or school trust lands may be paid from the fund as provided by law. The amendment is submitted at the 2026 state general election.
The state board calculates the fund’s distributable amount as 4.5 percent of its average net asset value over the prior three fiscal years. The calculation applies to the permanent school fund. The director reports the amount to the permanent school fund commission and education commissioner by August 15.
The commissioner of management and budget transfers the distributable amount to the school endowment fund as needed for school aid payments. The school endowment fund supports aid to public schools. The transfer is made as needed for payments under the school aid law. Sections 3 to 5 take effect only if voters adopt the proposed constitutional amendment. The calculation and transfer provisions take effect July 1, 2027, for aid payable in fiscal year 2028, if voters adopt the amendment.
Where do you stand?
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- May 26Secretary of State Chapter 114 05/26/26Latest
- May 26Governor Tim Walz's action Approval 05/26/26Major
- May 26Secretary of State, Filed 05/26/2026
- May 26Governor Tim Walz approval 05/26/2026Became Law
- May 20Presentment date 05/20/26
- May 20Presented to Governor 05/20/2026To Governor
- May 16Third Reading Repassed
- Vote recorded Repassage, as amended by the Conference. Result: pass.Lower
- Vote recorded Senate adopted CC report and repassed bill. Result: pass.Upper
- Vote recorded Motion to reject CC report, did not prevail. Result: fail.Upper
- Vote recorded Third Reading Repassed. Result: pass.Upper
- May 16Senate adopted CC report and repassed bill
- May 16Motion to reject CC report, did not prevail
- May 16Conference committee report
- May 16House adopted HCC report and repassed bill
- May 16Senate adopted conference committee report, bill repassed
- May 16Bill was repassed as amended by Conference
- May 16Third reading as amended by ConferenceMinor
- May 16House adopted conference committee report
- May 16Conference committee report
- May 12Senate conferees Kunesh; Hemmingsen-Jaeger; Cwodzinski; Farnsworth
- May 12Senate accedes, CC be appointed
- May 12House conferees Igo; O'Driscoll; Long; Youakim
- May 12House not concur, conference committee requested
- May 12Senate conferees Kunesh, Hemmingsen-Jaeger, Cwodzinski, and Farnsworth
- May 12Senate accedes, conference committee of 4 be appointed
- May 11House conferees Igo, O'Driscoll, Long, and Youakim
- May 11House refuses to concur, conference committee of 4 requested
- May 11Returned from Senate with amendment
- May 7Third reading Passed as amendedPassed 2nd Chamber
- Vote recorded Third reading Passed as amended. Result: pass.Upper
- May 7AmendedMajor
- May 7Special Order: Rule 45 amendment stricken
- May 6Second readingMinor
- May 6Comm report: Rule 45-amend, subst. General Orders SF3593
- May 5Referred to Rules and Administration for comparison with SF3593, now on General OrdersMinor
- May 5Introduction and first readingMinor
- May 5Received from HouseMinor
- May 5Authors added Hansen, R., and Davids
- May 4Bill was passed as amendedPassed 1st Chamber
- Vote recorded Passage, as amended. Result: pass.Lower
- May 4Third reading as amendedMinor
- May 4AmendedMajor
- Apr 30House rule 1.21, placed on Calendar for the Day Monday, May 4, 2026
- Apr 20Second readingMinor
- Apr 20Committee report, to adoptMinor
- Apr 9Author added Gander
- Apr 7Authors added Burkel and Skraba
- Mar 23Author added Myers
- Mar 18Authors added Virnig, Zeleznikar, and Greene
- Mar 18Committee report, to adopt as amended and re-refer to Rules and Legislative AdministrationMinor
- Mar 16Author added Mueller
- Mar 12Author added Warwas
- Mar 5Author added Bennett
- Mar 2Introduction and first reading, referred to Education FinanceIntroduced
EducationTaxes & Budget