Nevada

When Nevada was admitted into the Union in 1864, the Enabling Act granted the state almost four million acres of land to generate revenue to support the common schools. The original grant consisted of sections sixteen and thirty-six in each township. Townships were drawn according to the land survey, consisting of thirty-six square miles parcels, six miles on each side. The sections were, and still are, one square-mile parcels that make up the township. After statehood, the Nevada Legislature and Congress agreed to relinquish the almost four million scattered acres for a grant of two million acres to be selected from any unappropriated federal lands in the state. The state could select the lands they wanted but they lost nearly two million acres in the agreement. Most of the two million acres has since been sold, and the trust retains only 2,500 acres. The lands are managed by the Nevada Division of State Lands.

Along with the land grant was a requirement to establish a permanent fund where proceeds from the land would be deposited. The Nevada State Controller's office is responsible for the management of the fund. For a quarterly report of the Permanent School Fund, click on the Permanent School Fund button in the drop-down menu under Reports at the top of the page. As of FY 2006, the permanent fund balance was $273.4 million and was invested solely in bonds with a three percent rate of return.

Nevada beneficiaries are new to the CLASS organization. In some comparative charts, information for Nevada could not be obtained. As accurate information is acquired, the information will be updated.

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