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Legislative action that proposed this amendment: SJR2 1957 Regular Session
Disposition: Voters rejected this proposed amendment.
Amends article 10 section 3
The proceeds of the sales of all lands that have been or may hereafter be granted by the United States to this state, for the support of the common schools, royalties received by the state as a result of mineral leases of lands that have been or may hereafter be granted by the United States to this state for support of the common schools, and five per centum of the net proceeds of the sales of United States public lands lying within the state and sold by the United States subsequent to the administration of this state into the Union, shall be and remain a permanent fund , to be called the State School Fund, the interest of which only, shall be expended for the support of the common school. The interest on the State School Fund, the proceeds of all property that may accrue to the state by the escheat or forfeiture, all unclaimed shares and dividends of any corporation incorporated under the laws of this state, the proceeds of the sales of timber, and the rentals received by the state from school and state lands, other than those granted for specific purposes, shall, with such other revenues as the legislature may from time to time allot thereto, constitute a fund to be known as the Uniform School Fund shall be maintained and used for the support of the common and public schools of the state and apportioned in such manner as the legislature shall provide. The provisions of Section 7, Article XIII of this Constitution shall be construed as a limitation in the rate of taxation on tangible property for district school purposes and not on the amount of funds available therefor and, further, no monies allocated to the Uniform State Fund shall be considered in fixing the rates of taxation specified in Section 7 of Article XIII.