16th Section Land Revenues Continue to Climb
JACKSON, Miss. — Revenue generated from 16th Section land across the State reached record levels in 2012, approximately $89,223,643—all of which goes directly to the education of our children.
“This $89 million will help alleviate some of the financial headaches faced by our school districts today. In times of serious cutbacks and strict budgets, we were able to increase revenue generated on these public lands to benefit education,” says Secretary of State Delbert Hosemann.
Revenue from 16th Section lands has increased approximately $34 million per year since Secretary Hosemann took office.
“I made a promise I would protect our public lands for schoolchildren. Time and time again, we have seen attempts to raid 16th Section land funds for short term gains,” adds Secretary Hosemann. “This increase in funding shows sound management practices are producing cash results.”
Secretary Hosemann’s 16th Section Reforms include:
· Placing all 16th Section leases on the Agency website to provide full, open transparency to the public;
· Entering into a historic Memorandum of Understanding with the Mississippi Forestry Commission to develop forest management plans for school districts to better manage and conserve this natural resource, while increasing timber revenue generated from public lands;
· Increasing oil royalty payments on public lands from 1/8th to 3/16th and higher; and,
· Monitoring timber cuts to ensure school districts receive fair value for valuable resources.