Estimated read time: 2-3 minutes
This November, Utahns will vote on Amendment B, also known as the Raise the Cap Amendment. This amendment seeks to increase the annual distribution cap from the Permanent State School Fund from 4% to 5%.
One of the most appealing aspects of Amendment B is that raising the cap does not impact Utah taxpayers. The extra money comes from the State School Fund endowment, which is not supported by taxes, but from revenue from trust lands and fund investment.
What is Amendment B?
Your November ballot will read:
"Constitutional Amendment B - Shall the Utah Constitution be amended to increase the limit on the annual distributions from the State School Fund to public schools from 4% to 5% of the fund?"
Voting for Amendment B would raise the cap on School Trust Fund distributions from 4% to 5%, increasing annual distributions approximately 13% or $14 million. This school year, Utah schools received $106 million but would have received $120 million if Amendment B were in place today.
Both the 2023 Utah House and Senate unanimously approved House Joint Resolution 18 Proposal to Amend the Utah Constitution – State School Fund to place Amendment B on the 2024 ballot.
What is the $3.3 billion State School Fund endowment?
The State School Fund endowment was established at statehood to support public schools. Growth of the State School Fund comes from revenue produced from school trust lands and prudent investment of those funds by the School and Institutional Trust Funds Office (SITFO). Raising the annual distribution cap from 4% to 5% will help ensure current students receive their share of funds, while still allowing for growth and protecting the endowment for future students.
Broad support from many groups
Amendment B has broad support from many different organizations. These include the Utah PTA, Utah Taxpayers Association, Utah State Board of Education, Utah School Boards Association, Utah School Superintendents Association, Utah Rural Schools Association, and Utah Treasurer Marlo Oaks.
The impact on schools
School Trust Fund distributions augment traditional education funding. This extra funding is important because it allows schools to meet their most pressing academic needs. Each School Community Council – comprising parents, teachers, and the principal – determines the best use of School Trust Funds at its school. Whether it's improving math tutoring, expanding college prep courses, or investing in science labs, this funding makes a real difference.
Vote for Amendment B this November
It's time to raise the cap for Utah schools. Vote for Amendment B. For more information, visit landtrustsadvocacy.utah.gov/raisethecap.
