Print Page   |   Your Cart   |   Sign In
Public Policy
Group HomeGroup Home Blog Home Group Blogs

What is Prop 123?

Posted By Gabriel Salcido, Arizona Small Business Association, Tuesday, May 10, 2016

Prop 123 is a ballot measure that, if it passes, will settle a years-long lawsuit and put $3.5 billion into Arizona’s K-12 public schools over the next 10 years without raising taxes.

The majority of the $3.5 billion funding comes from Arizona’s state land trust fund, an invested account that earns income annually and has nearly doubled in value over the past five years.

Voting YES on Prop 123…

  • Injects an additional $3.5 billion into public schools over the next 10 years
  • Doesn’t raise taxes
  • Protects future generations of students
  • Keeps quality teachers in Arizona


 
How does that work?

How Prop 123 Land Trust Works-01 copy

Arizona’s Permanent Land Endowment Trust Fund is currently worth $5 billion, and the trust earns money each year. Right now, 2.5% of the value of the trust is paid on an annual basis to beneficiaries like K-12 public schools, which own the majority of the trust. A YES vote on Prop 123 would increase the distribution amount to 6.9% from 2.5% for 10 years.

 


 
What about future generations?

$1B-Graph

The nonpartisan Joint Legislative Budget Committee projects that the land trust will grow by more than $1 billion over the next ten years under Prop 123. That means we will maintain the health of the trust to fund future generations of students, the way the trust was intended.

Not only will the land trust continue to grow through the investment of the current funds, it will also grow through the sale of state lands. Right now, Arizona has over 9.2 million acres of unsold trust land worth over $70 billion backing up the current $5 billion trust. As lands are sold over the years, the proceeds will add to the fund, growing the available dollars for education as intended by Arizona’s founders.


What are the benefits?


Increases Classroom Spending.
 $3.5 billion in new money over the next decade will have a real impact on schools. Prop 123 puts more dollars into the classroom, where teachers can make a difference for students.

 

 


Keeps Quality Teachers. 
Teachers are fleeing Arizona because of a lack of financial support for education. This will reverse that trend and help pay our teachers what they deserve.

 

 

Diverse elementary students in the classroom


Takes A Good First Step. 
Prop 123 is a great first step that brings immediate and sustained funding into the public school system while protecting the trust for future generations of students.

  

 

Source: http://yesprop123.com/about/

Tags:  Access to Capital  education  public policy 

Share |
PermalinkComments (0)
 

Join @Zoho at the AC Biltmore Hotel on 11/22

Zoho One

Free seminar on business optimization! Join the Zoho team on November 22nd at the AC Biltmore Hotel for a half-day of learning and fun. Their experts will discuss how you can manage your sales, marketing, support, finance, and more all with one comprehensive platform. They'll also discuss tips and tricks and best practices to automate processes and help you optimize your business.

LEARN MORE

Join ASBA

ASBA

ASBA is the most powerful resource for your business in Arizona. We ensure the tools we offer are valuable and support the growth, education and connections necessary for today’s top business minds.

LEARN MORE

Partner Program

ASBA

ASBA’s Partner Program delivers your brand throughout Arizona. Share insights, connect with small business and highlight your company’s involvement with the association. Contact Jodi Towns to get started.

LEARN MORE

RSVP

Coffee Connect with ASBA

REGISTER

Date: Held monthly
Time: Click for times based on location

RSVP

ASBA Speed Networking

REGISTER

Date: Held monthly
Time: Click for times based on location

Have Questions on Health Insurance?

Health Insurance

Do you have questions on plans for Individual, sole proprietor, or group? We can get the answers needed to make sure you find the right plan for you and your employees.

LEARN MORE

ASBA Ask a Lawyer

ASU Law Group

ASU Law Group is here to help you with your small business legal needs! Fill out the form today and an ASU Law Group attorney will reach out to you. Only for Business/APEX members.

ASK A LAWYER

Upcoming Events

Health+Plus

Join ASBA at any of our upcoming events!

REGISTER

Association Management Software Powered by YourMembership  ::  Legal