Managing State Trust Lands Fiduciary Duty in the Changing West

Congress granted state trust lands to newly organized states that entered the Union to support essential public institutions. While many state trust lands have passed into private ownership, the remaining 46 million acres, primarily concentrated in nine Western states, represent a significant part of the Western landscape. Unlike other public lands, most state trust lands are held in trust for designated beneficiaries, principally public schools. State trust managers lease and sell these lands for a diverse range of uses to meet their fiduciary responsibility - generating revenue for the designated beneficiaries, today and for future generations. Proceeds are distributed into a state's permanent fund and used for many purposes, from guaranteeing school loans to paying teachers' salaries.