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SF 3593

Constitutional Amendment proposal to modify the permanent school fund investment, management, and distribution policy

2025-2026 Regular Session Introduced by Rob Farnsworth and 3 co-sponsors

Constitutional amendment modifying Minnesota's permanent school fund earnings calculation to adjust annual K-12 education funding availability.

Rule 45-amend, subst. General Orders HF3900, SF indefinitely postponed
#constitutionalamendments #educationandeducationdepartment #lands
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Bill Summary · SF 3593

Legislative bill overview

SF 3593 is a constitutional amendment proposal that would modify how Minnesota's permanent school fund calculates its distributable earnings—the money available annually for K-12 education spending. The bill changes the methodology used to determine what portion of the fund's investment returns can be spent versus reinvested to preserve the fund's principal.

Why is this important

The permanent school fund is a foundational revenue source for Minnesota schools, with distributable earnings providing hundreds of millions in annual education funding. How earnings are calculated directly affects available school budgets; a higher calculation yields more spending flexibility, while a lower calculation preserves more principal for long-term growth and inflation protection.

Potential points of contention

  • Spending vs. sustainability trade-off: Changes that increase current distributable earnings may reduce the fund's ability to keep pace with inflation and serve future generations, creating tension between immediate school needs and long-term financial health.
  • Market volatility impacts: Different calculation methodologies respond differently to investment market fluctuations, potentially creating unpredictable education funding swings or requiring additional state budget adjustments.
  • Constitutional threshold: Amending the state constitution requires voter approval and public understanding; technical financial changes may face difficulty gaining public support or clarity during ballot campaigns.

Compiled from official sources — confirm details with the bill’s official record.

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