On November 3 Minnesota voters will vote on a constitutional amendment to modernize how Minnesota’s Permanent School Fund supports students, schools, and communities. The constitutional amendment was approved by the Minnesota Legislature during its 2026 session with strong bipartisan support. A majority of Minnesota voters must vote “yes” for it to be adopted.
LWVMN is committed to providing nonpartisan information to voters about what is on their ballot so they can make informed choices. We encourage you to view this webinar and to read the FAQ’s below to learn more about the Permanent School Fund Constitutional Amendment ballot question.
LWVMN encourages all eligible voters in Minnesota to vote in the November 3 General Election and to be sure to vote on this ballot question. Go to MNVOTES.gov to register to vote and to get accurate information on the upcoming election.
Frequently Asked Questions:
Ballot language
“Shall the Minnesota Constitution be amended to increase the funding going to all school districts from the permanent school fund, which is a fund that supports school districts without raising individual income or property taxes, effective July 1, 2027?”
Where on the ballot will I find this question?
This question will be at the bottom of the front page on your ballot. Go to MNVOTES.gov to see what your exact ballot will look like and locate it on your ballot.
Does it matter if I skip over this ballot question and do not mark my ballot?
Yes. Leaving the ballot question blank will count as a “No” vote.
Are there lawn signs available in support of this amendment?
There are organizations and campaigns producing handouts, flyers, and videos to educate Minnesota voters about this amendment. You can keep an eye on those websites to see whether they offer lawn signs as well.
What schools are eligible to receive these funds?
All public schools in Minnesota. That includes public schools, charter schools, and tribal schools.
Can Election Judges inform voters that not voting on this amendment is equivalent to a ‘No” vote?
Yes, that is the official instruction that appears on the ballot.
Will this amendment have an impact on the environment? Will this put pressure on the land in trust?
This is an investment fund so much of the original principle was money raised in the past. This has been money invested for decades so that principle will grow. There may still be some lands that produce, but that is not the main source of revenue for fund growth.
Where is the difference of funds between the current distribution to schools and the proposed distribution?
The distribution varies from year to year depending upon the interest and dividends earned by the Fund. Currently, distributions are tied to net interest and dividends rather than the overall market value of the endowment. With the Constitutional Amendment, the underlying approach will change and distributions will be 4.5% of the average net asset value of the Fund over the preceding three fiscal years – Percent-of-market-value (POMV).
Can funds be added to the trust?
Yes. Revenue from the trust lands continues to be credited to the Permanent School Fund. The Commissioner of Education can also accept donations on behalf of the Permanent School Fund and those are credited to the Fund.
Is there a concern that this is now a bubble and have an impact on future distribution?
The Fund is invested, so its market value will fluctuate. The proposed formula does not assume that the Fund will increase in value every year. One reason the legislation uses the average market value over the preceding three fiscal years, rather than simply taking 4.5% of the Fund’s value on a single date, is to smooth the effect of market fluctuations. A particularly strong or weak year therefore does not immediately determine the entire distribution. The constitutional language also requires management of the Fund to preserve its purchasing power over time and to balance the needs of current students with those of future beneficiaries.
There is more information and detail in the legislature bills that passed to get this amendment on the ballot for Minnesota Voters. What is the actual law being passed?
Can Minnesota voters look up what this might mean for their local district funding?
Check with your local school board for their assessment of how, if passed, would impact your local school district. You can also view this chart from the Minnesota School Board Association website: https://mnmsba.org/wp-content/uploads/2026/08/FY-2025-PSF-Run-2.pdf
If this passes, will that prevent levy increases?
No, but every little bit helps a school district. Preview your ballot ahead of time to see if your district does have a separate school levy. Please utilize resources to vote on both the constitutional ballot question and the local district levy. Both will impact the funding of local public schools.
Can we ask school board candidates about this amendment in forums and other campaign events?
Yes. Current school board members may only give information about the amendment. If they are also a candidate, they can answer questions as a candidate.
If the amendment passes, what role will the legislature play in future decision-making about the fund?
The proposed constitutional language specifically says that the distribution policy shall be prescribed by law and must be consistent with the principles established in the Constitution. Those constitutional principles require the Fund to be managed:
- as a perpetual financial resource for Minnesota school districts;
- to provide annual distributions;
- to preserve the purchasing power of the Fund over time; and
- to balance the needs of current and future beneficiaries.
Future legislatures could consider changes to the statutory distribution policy, but any policy would remain subject to the requirements placed in the Constitution by voters.
More information:
- More FAQs from the Permanent School Fund Constitutional Amendment website
- Minnesota Permanent School Fund Constitutional Amendment Website
- Minnesota School Boards Association: Permanent School Fund
- Minnesota School Board Association: FAQs for Education Professionals (Updated July 23)
- LWVMN Permanent School Fund webinar (recorded September 3, 2026)
- MPR News with Angela Davis: September 8, 2026
- Minnesota Office of School Trust Lands: Revenue Distribution