“The State Board of Education’s (SBOE) recent decision to invest $100 million of the Permanent School Fund (PSF) in charter school facilities reinforces the need to have individuals with investment experience managing this important fund.” Said State Representative Donna Howard (D-Austin) as she announced her intention to re-file her bill next session to give voters the chance to turn the management of the state’s $22 billion Permanent School Fund over to an appointed investment council.
The State Board of Education (SBOE) currently manages the fund. Last session, HJR 77 passed out of committee on a unanimous vote and passed out of the House with just over 100 votes. However, the bill never made it through the Senate committee.