Austin, Texas – August 20, 2026 – The Texas Permanent School Fund (PSF) Board of Directors approved distributions to the Available School Fund of $600 million in each year of the 2028-29 biennium. This distribution is known as the “5(g)” distribution — named after the Constitutional provision authorizing it — and $600 million is the maximum allowed by the Texas Constitution.
It is a supplemental PSF transfer to the “5(a)” distribution which will be determined later this year by the Texas State Board of Education (SBOE). Combined, these distributions for the 2026-27 biennium will total $4.8 billion, a record high. The total 2028-29 distributions are expected to surpass this amount and set a new record for support to Texas public schools.
Tom Maynard, Chair of the Texas PSF Board, noted that these maximum distributions are made possible due to the prudent management of PSF lands by the General Land Office, led by Commissioner (and Texas PSF Board member) Dawn Buckingham. By the end of fiscal year 2026, the GLO expects to deliver approximately $1.5 billion in oil and gas royalty revenue to the Fund.
PSF distributions to the Available School Fund help support Texas education and reduces the funding burden on the state treasury and Texas taxpayers. In the 2028-29 biennium, PSF revenues are projected to provide more than $10,000 annually per classroom to our Texas public schools.
Contact: mediarequests@texaspsf.org