SJR 26-CONST. AM: EDUCATION FUND  MS. LORETTA BROWN presented SJR 26 for Senator Ward, the sponsor. SJR 26 proposes amendments to the Alaska Constitution related to education. This legislation offers a common sense approach to funding and improving Alaska's educational system. SJR 26 establishes a land trust to fund education and allows for the funding of private, as well as public, schools by establishing a voucher system that favors school choice. The goals of the voucher system are to enhance educational opportunities and to promote more competition and quality in the delivery of educational services. MS. BROWN explained that SJR 26 creates an endowment trust to ensure adequate future funding for education. It will provide for the use of revenues from the land trust to pay the operational costs of education from kindergarten through the university level. The trust would be entitled to 100 percent of any income derived from land sales, leases, contracts, licenses or other uses for the granted land. Not only would SJR 26 ensure the financial future of Alaska's schools and provide for school choice, but it will create new jobs and stimulate economic development as resources of the trust are developed. Number 725 MR. LARRY WIGET, Executive Director of Public Affairs for the Anchorage School District and the Anchorage School Board (ASB), urged policy makers to oppose efforts to use public tax dollars to finance private home school vouchers. The ASB urges policy makers to work with local communities to ensure that the State's public schools provide world class educational opportunities. The ASB believes taxpayer funded vouchers for private or home school tuition and fees drain resources from public school classrooms and diminish revenues for public schools. The ASB has not discussed the endowment that the bill proposes to create. CHAIRMAN WARD stated that it is not his intention to pass the bill out at this time. He modeled SJR 26 on the Steve Cowper Endowment Trust Fund concept, which uses a five million acre entitlement from the State of Alaska to fund K-University programs. Number 885 MR. WIGET said that it has been a while since the ASB has looked at endowment issues. He will take SJR 26 back to the ASB for further discussion. SENATOR ELTON said that people are interested in an endowment approach but committee members have different views on how it should be started. SJR 26 ensures that the endowment is not just for public schools; it is for private schools as well. The bill provides for both public and private elementary and secondary schools, yet only a public university. He asked why the endowment will not fund private universities as well. Number 1009 CHAIRMAN WARD stated that it seems like the University of Alaska needs the most support. His intent is to give choices to parents. SENATOR ELTON and CHAIRMAN WARD briefly discussed using endowment funds for both public and private school use. Chairman Ward was in favor of the idea, Senator Elton was not. Number 1128 SENATOR PHILLIPS requested that Chairman Ward consider private universities also. CHAIRMAN WARD said he was looking at the issue purely from a financial standpoint because the University has asked for land grants to provide a steady revenue stream. Chairman Ward announced he would hold SJR 26 in committee. There being no further business to come before the committee, CHAIRMAN WARD adjourned the meeting at 3:53 p.m.