Terri LeoState Board of Education member Terri Leo criticized Lt. Gov. David Dewhurst on Sunday for what she called "an ill disguised legislative attempt to assume control and management of the $20 Billion Permanent School Fund (PSF)".

Dewhurst recently asked the Senate Education Committee to review the legislative oversight of the Permanent School Fund.

Leo fears that Dewhurst wants to pressure the elected State Board of Education to increase the payout of the Permanent School Fund which she believes would deplete the principal and adversely affect the availability of PSF for future generations of Texas schoolchildren. Leo claimed that, without the oversight of the State Board, "the PSF would not be a $20 billion fund generating over $800 million a year." She pointed out that the "School Fund" almost went bankrupt when it was managed by the Texas legislature from 1854 to 1876 until management and control of the fund was placed in the hands of the State Board of Education.

Dewhurst is not the first Lt. Governor to make a run at trying to get more control of the PSF. As Will Lutz notes, "Lt. Gov. Bob Bullock tried to pressure the elected State Board of Education to increase the payout of the Permanent School Fund." Other SBOE members, including Chairwoman Geraldine Miller from Dallas and Don McLeroy from Bryan have called these new efforts of Dewhurst and others a "raid" on the fund.

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