January 8, 2013 – The School Land Board voted Tuesday to release $300 million into the Available School Fund for public schools. The money will be released in two $150 million installments, one in February and the other on June. The funds had been caught in a standoff between the Legislature and the School Land Board, which operates out of the General Land Office and oversees the state’s public school land. Usually the proceeds from the sale and management of public school lands would go into a $26 billion trust whose revenue feeds into the Available School Fund. Proposition 6 made it so that the School Land Board, if it chose, could bypass that step and put money directly into the fund.
Link to Full Article: http://www.texastribune.org/2013/01/08/land-board-votes-transfer-300-million-schools/