Koan is knowingly lying again. The Alaska state fund was started by a Republican governor so Democrats couldn't blow the money. Mythical "social scientists" had nothing to do with it. And other states DO have funds similar to it .... including Texas who established a state school fund in the mid 1800's.
TX established a similar fund for the benefit of its schools more than a century ago. Koan knows this and lies.
Message 27899406
The Alaska Permanent Fund came about due to Republican governors Hammond, Hickel, and Miller. It's not a original idea:
The Texas Constitution of 1876 set aside half of Texas’ remaining public lands to establish a Permanent School Fund (PSF), to help finance public schools. Legislators intended for this land to be sold and the proceeds be deposited into the PSF. Deposits to the PSF would be an inexhaustible source of revenue because only interest income from the fund could be spent and would be apportioned among the state's public schools.
The Land Office is responsible for managing these lands, including sales, trades, leases and improvements, as well as administration of contracts, mineral royalty rates, and other transactions. These lands generate revenues primarily through oil and gas revenues, but also through land sales and leases for surface uses.
The interest earned on the PSF investments is distributed by the State Board of Education to every school district in Texas on a per-pupil basis. The land office also deposits fines on unpaid or late royalties, commercial leasing revenues, and Outer Continental Shelf pipeline fees into the PSF.
Since only interest income can be spent, the principal amount of the PSF remains intact and will continue to benefit the public schools of Texas.
glo.texas.gov
Yes, Texas oil and gas royalties on public land go into the school fund. Koan is an ignorant ass who doesn't know that few states have as much state land as AK or TX does.
Message 28044702
Texas Permanent School Fund
The PSF was created with a $2,000,000 appropriation by the Texas Legislature (the "Legislature") in 1854 expressly for the benefit of the public schools of Texas. The Constitution of 1876 stipulated that certain lands and all proceeds from the sale of these lands should also constitute the PSF. Additional acts later gave more public domain land and rights to the PSF. In 1953, the U.S. Congress passed the Submerged Lands Act that relinquished to coastal states all rights of the U.S. navigable waters within state boundaries. If the state, by law, had set a larger boundary prior to or at the time of admission tothe Union, or if the boundary had been approved by Congress, then the larger boundary applied. After three years of litigation (1957 – 1960), the U. S. Supreme Court on May 31, 1960, affirmed Texas' historic three marine leagues (10.35 miles) seaward boundary. Texas proved its submerged lands property rights to three leagues into the Gulf of Mexico by citing historic laws and treaties dating back to 1836. All lands lying within that limit belong to the PSF. The proceeds from the sale and the mineral-related rental of these lands including, bonuses, delay rentals and royalty payments, become the corpus of the Fund.
tea.state.tx.us
One thing unique about Alaska is the Alaska Statehood Act gave it 101M acres, so it has an unusual amount of state land.
This has all been pointed out to koan. So this shows he's a deliberate liar!
Message 28511221 |
