An endowment for K-12 public schools, that totaled $44 billion as of August 31, 2018. In that same fiscal year, the PSF allocated $1.2 billion towards Texas education investments. This fund also issues bond guarantees that allow eligible school and charter districts to receive lower interest rates on their debt.
Total value of Permanent School Fund in 2018:
$44B
Established in 1876 by the Texas Constitution. Legislators wisely set aside land in the West Texas region in which all profits from mineral rights and surface income would feed into the PUF. Little did they know that this land would be worth billions someday, thanks to the Permian Basin, which is now the world’s highest producing oilfield. Today, the fund is worth around $22.6 billion, with around $1.1 billion coming from oil and gas in the fiscal year of 2018.
Total value of Permanent University Fund in 2018:
$22.6B
Exceeds $1 million
192Accounts for at least one-quarter of tax base
190Accounts for over one-half of the tax base
70Amount deposited into Permanent School Fund in 2018 from oil and gas revenue:
$2BTotal tax levy for Texas ISDs from oil and gas properties:
$1.24BAmount added to the Permanent University Fund in 2018 from oil and gas revenue:
$1.1BTexas oil and gas producers are making an impact by partnering with schools across the state on education programs. By funding research for new energy technologies, these producers are improving educational opportunities across the Lone Star State.
In 2018, companies in West Texas also joined forces to establish the Permian Strategic Partnership, which aims to improve the quality of life for West Texas residents, including implementing strategic plans to foster superior education and workforce development.
The partnership is still in its early phases, but producers have already committed $16.5 million to open 14 new, tuition-free, high-performing public charter schools in the region.
We have more than 400,000 supporters from all over Texas. We are citizens and officeholders, business owners and students, royalty owners and homeowners. Texans for Natural Gas (TNG) is a campaign managed by the Texas Independent Producers and Royalty Owners Association (TIPRO).