5 Statehood Deal State Agrees Not to Tax Federal Domain Federal Government Grants Land to State for Support of Free, Public, Nonsectarian Schools
6 Utah Enabling ActLaw passed by Congress offering entrance into the UnionContains terms and promises of both partiesConfirmed by Utah in its Constitution
7 How Did Trust Lands Come to Be? Thomas Jefferson
8 Congressional Land Grant Intent School in Every TownshipSection 16Ohio (1803) – Minnesota (1858)The Arid WestSections 16 and 36Oregon (1859) – Wyoming (1890)The ‘Really’ Arid WestSections 2, 16, 32 & 36Utah, Arizona and New Mexico
9 Currently:3.4 million surface acres of Trust Landin UtahLands Earn Revenue From:MineralsSurfaceDevelopmentGrazingForestry
10 When did the trust lands really start making money to help fund schools?
11 1994 Trust Lands Management Act Created School and Institutional Trust Lands Administration (SITLA)Codified a fiduciary duty to manage trust lands for the best financial interests of the beneficiaries (public school system)At SITLA’s Creation, Permanent State School Fund had approximately $50 million, now approaching $2 BILLION.