As Treasurer Jeff DeWit predicted, a federal judge has ruled against the use of state trust land that was mandated by Prop 123. The proper way to get additional money from the state land trust is to sell more land. This gets the land out of state management and into the taxpaying private sector. Unfortunately, we have some bureaucrats in the State Land Department who think they can manage land better than private sector owners. That is nonsense. If it were true, these bureaucrats would be in the private real estate sector where their income potential is much higher.
Let’s step up state trust land sales and get that money working for our schools in the legally (and fiscally) correct manner.