The public school permanent endowment fund of the state shall consist of the proceeds from the
sale of such lands as have heretofore been granted, or may hereafter be granted, to the state by the
general government, known as school lands, and those granted in lieu of such; lands acquired by
gift or grant from any person or corporation under any law or grant of the general government;
and of all other grants of land or money made to the state from the general government for
general educational purposes, or where no other special purpose is indicated in such grant; all
estates or distributive shares of estates that may escheat to the state; all unclaimed shares and
dividends of any corporation incorporated under the laws of the state; and all other grants, gifts,
devises, or bequests made to the state for general educational purposes; and amounts allocated
from the public school earnings reserve fund. Provided however, that proceeds from the sale of
school lands may be deposited into a land bank fund to be used to acquire other lands within the
state for the benefit of endowment beneficiaries. If those proceeds are not used to acquire other
lands within a time provided by the legislature, the proceeds shall be deposited into the public
school permanent endowment fund along with any earnings on the proceeds.
Structure Idaho constitution