SALEM, Ore. -- The State Land Board has allotted an extra $12 million from the Oregon Common School Fund to help districts statewide.
When Oregon became a state in 1859, Congress set aside 6 percent of the new state's land to support public schools. Much of that land has since been sold, with the proceeds going to the Common School Fund. The fund now gets much of its revenue from investments instead of timber yields.
To help balance this year's budget, the state Legislature asked the land board to withdraw more money than usual from the fund to help schools.
The extra money approved Tuesday brings this year's total distribution to schools to $65 million.