Proposition 1 – Permanent Endowment for TSTC

Proposition 1 – SJR 59 “The constitutional amendment providing for the creation of the permanent technical institution infrastructure fund and the available workforce education fund to support the capital needs of educational programs offered by the Texas State Technical College System.”

What I think it means:  A “YES” vote on this means that you want to set up a permanent endowment for TSTC to help pay for buildings and other infrastructure.

How I plan to Vote: YES

Thoughts: This bill would set up a permanent endowment for TSTC to use for capital needs (buildings and infrastructure).  The bill itself doesn’t specify how much the endowment will be, but the legislature has already appropriated $850 million for the initial deposit.  This is money that would be invested so that TSTC could have a dependable source of income (up to $52 million a year, adjusted for inflation) in perpetuity to use for capital expenses.

In other words, they wouldn’t have to ask for everything they need every year – they would know they have $52 million they could spend.

I think most people agree that TSTC is worth the investment.  They are an absolute jewel for our state – preparing people for good paying jobs that are tied to the future prosperity of our state.

The only negative I have seen people mention is that they don’t necessarily like the idea of an on-going fund dedicated ONLY to TSTC.   They want more flexibility to spend the money other ways instead of having it dedicated to TSTC.

I’ll be voting YES because I believe TSTC’s mission is crucial for Texas, and I think having a permanent source of funding helps them to manage capital expenses wisely. This will enable TSTC leadership to look ahead and plan, knowing that the money will be available, instead of hoping for the best each go round and then having to make last minute adjustments if they don’t get what they need.  Being able to do better long-term planning seems smart to me, especially when it comes to capital investments.