Idaho § 33-3301 - Normal school permanent endowment fund
Full text of Idaho Idaho Statutes § 33-3301 — Normal school permanent endowment fund, with citation guidance and answers to common questions.
§ 33-3301. Normal school permanent endowment fund
(1) There is established in the state treasury the normal school permanent endowment fund. This fund is perpetually appropriated for the beneficiaries of the endowment. The fund shall be managed and invested by the endowment fund investment board according to law and the policies established by the state board of land commissioners. The fund principal shall forever remain intact. The fund shall be a permanent fund and shall consist of the following:
(a) Proceeds of the sale of any of the lands granted to the state of Idaho by the United States government under the provisions of the Idaho Admission Bill, 26 Stat. L. 215, ch. 656, known as normal school endowment lands, and those granted in lieu of such;
(b) Proceeds of royalties arising from the extraction of minerals on normal endowment school lands owned by the state; and
(c) Moneys allocated from the normal school earnings reserve fund.
(2) Provided however, that proceeds from the sale of normal school endowment lands may be first deposited into the land bank fund established in section 58-133 , Idaho Code, to be used to acquire other lands within the state for the benefit of endowment beneficiaries. If the land sale proceeds are not used to acquire other lands in accordance with section 58-133 , Idaho Code, the proceeds shall be deposited into the normal school permanent endowment fund along with any earnings on the proceeds.
(3) Earnings from the investment of the normal school permanent endowment fund shall be distributed according to the provisions of section 57-723A , Idaho Code.
[33-3301 added 1998, ch. 256, sec. 26, p. 836.]
Frequently Asked Questions About Idaho § 33-3301
What does Idaho Statutes § 33-3301 cover?
Section 33-3301 ("Normal school permanent endowment fund") is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 33-3301?
A common citation format is "Idaho Statutes § 33-3301" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 33-3301 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.