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Colorado state schools to be funded by land rent? |
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Rocky Mountain News reports that the rent collected on Colorado state land should go to a special fund that benefits schools.
 This was announced by State Treasurer Mike Coffman earlier this week. The proposal involves changing the Colorado Constitution and requires to be accepted by Colorado inhabitants at a statewide referendum. Coffman hopes to see the his proposal placed on next November's ballot.
Coffman's proposal treats state land rental income like state land sales.
Coffman's proposal would place all rental income from state land into the $372 million Permanent School Fund, which benefits the state's public schools.
The principal of the fund has been building since the federal government granted 3.7 million acres to the state in 1876. Last year, schools received about $20.8 million in interest from the fund.
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