Wisconsin Board of Commissioners of Public Lands

The Wisconsin Board of Commissioners of Public Lands, otherwise known as BCPL, is a state agency responsible for investing Wisconsin's School Trust Funds in support of public education, for managing the state's remaining School Trust Lands, and for maintaining an extensive archive of land records. The agency was established in Article X, Section 7 of the Wisconsin Constitution, ratified in 1848.[2][3]

Wisconsin Board of Commissioners of Public Lands
Agency overview
Formed1848
JurisdictionWisconsin
Headquarters101 E. Wilson Street, 2nd Floor, Madison, Wisconsin 53703
Employees7.5
Agency executive
  • Tom German[1], Executive Secretary
Parent agencyWisconsin Legislature
Websitehttp://bcpl.wisconsin.gov/

BCPL was organized upon Wisconsin's statehood to oversee the sale of School Trust Lands, public lands allotted by Congress to finance primary, secondary and post-secondary public education in a then land rich but cash poor nation. Once encompassing over 1.5 million acres, a little less than 80,000 acres (320 km2) of the original land grants conveyed to Wisconsin remain under BCPL's stewardship; these lands are largely forested and therefore harvested for sustainable timber, the proceeds of which are deposited to both the Common School Fund and to the Normal School Fund.[4] The remaining School Trust Lands are free and accessible to the public, for hunting, fishing, trapping, hiking, and other outdoor recreational activities. BCPL prioritizes managing its remaining School Trust Lands efficiently and sustainably, with an eye towards guaranteeing productivity, protecting water quality, maintaining biodiversity, and enhancing public access.[5]

Trust funds and beneficiaries

Proceeds from the sale and management of the School Trust Lands constitute a significant proportion of the principal incident to the four School Trust Funds managed by BCPL: the Common School Fund, tNormal School Fund, University Fund, and Agricultural College Fund.[6]

The Common School Fund was created from the sale of the 16th section in each of Wisconsin's townships;this amounted to almost 1,000,000 acres (4,000 km2). The U.S. Congress later added to the Common School Fund's principal by allocating an additional 500,000 acres (2,000 km2) of school lands. In addition, the state grants to the Common School Fund all fines, fees, and forfeitures for violations of the criminal laws, alongside all unclaimed property and escheated property that accrues to the state. Income from the Common School Fund is remitted annually to the Wisconsin Department of Public Instruction for distribution to public schools as public school library aid.[7] These annual distributions are the only source of statewide aid for Wisconsin's public-school libraries.[8]

The Normal School Fund was created in 1865 from the sale of half of the land grant Congress conveyed to Wisconsin in the Swamp Land Act of 1850 after the Wisconsin Legislature determined not all of the land was needed to finance land reclamation activities. The Normal School Fund was originally intended to provide financial support to normal schools, or state teacher colleges. Since Wisconsin's state teacher colleges merged with the University of Wisconsin System in 1971, the Normal School Fund now primarily finances scholarships and environmental education programming at the University of Wisconsin System.[9]

The University Fund was created from congressional grants in 1838 and 1854 of four townships to be sold to support a land-grant university. Neither Congress nor the Legislature provided for additional revenues to the University Fund following the sale of most of the university lands. Interest on the remaining trust fund principal is distributed annually from the University Fund to the University of Wisconsin–Madison.[10]

The Agriculture College Fund was created from the proceeds of land grant allocated to the state by the Morrill Land-Grant Colleges Act. The state received 240,000 acres (970 km2) of land under this Act. Neither Congress nor the Legislature provided for additional revenues to the Agricultural College Fund following the rapid sale of the agricultural college lands. Interest on trust fund principal is distributed annually from the Agricultural College Fund to the University of Wisconsin–Madison, the state's land-grant university.[11]

Investments

BCPL invests principal from its School Trust Funds in a variety of bonds, stock and securities to finance public-school libraries and elements of the University of Wisconsin System.[12][13][14][15] Sometimes, BCPL purchases bonds issued by the State of Wisconsin Building Commission to not only diversity its trust assets portfolio, but also to support important projects in other state agencies. In 2006 for example, BCPL purchased $2 million in state bonds to benefit the Wisconsin Department of Veterans Affairs.[16] Besides the proceeds of unclaimed property and the clear proceeds of fines, fees and forfeitures collected in the many counties credited to the Common School Fund, BCPL generates additional revenue to the benefit of trust beneficiaries through sustainable forestry and the sale of less productive School Trust Lands in exchange for more productive parcels.[17][18] Public land sales are by private sale and either paid with cash or through mortgaged installments.[19][20] BCPL further grows its trust assets by issuing loans from the four School Trust Funds to Wisconsin municipalities and school districts to finance capital investments, economic development, and other public purpose projects. Principal and interest on these investments are payable annually at BCPL's office in downtown Madison, Wisconsin.[21][22]

Commissioners and staff

In accordance of Article X, Section 7 of the Wisconsin State Constitution, the Board of Commissioners of Public Lands consists of the Secretary of State, State Treasurer, and Attorney General.[23] The current commissioners are as follows:

State Treasurer Sarah Godlewski currently serves as chair of the Board.[25] The three commissioners are supported by a staff to carry out the day-to-day operations of the agency.[26] Tia Nelson, daughter of late governor and U.S. Senator Gaylord Nelson, previously served as Executive Secretary of the BCPL from October 2004 to July 2015.[27] The current Executive Secretary is Tom German, who succeeded his predecessor Jonathan Barry following the latter's retirement on January 4, 2020.[28][29] BCPL is a member of the Western States Land Commissioners Association, an organization that represents and advocates for the land boards in the several western states.[30]

gollark: Philosophy is mostly weird semantics games I think.
gollark: I invoke `execve(2)` and counter³claim it.
gollark: I invoke divine right of kings (it's not like they had any more right to than me) and COUNTERCLAIM it.
gollark: I guess so.
gollark: Based on the Wikipedia article on Pfizer, the P is silent, if I'm reading this right.

References
  1. "Board of Commissioners of Public Lands - Staff Directory". bcpl.wisconsin.gov. Retrieved 2020-02-15.
  2. Wisconsin Constitution, art. X, secs. 7–8. Wisconsin Blue Book, 1853, at 29. Wisconsin Constitution, Dec. 2009.
  3. https://docs.legis.wisconsin.gov/2011/related/wiscon/_20
  4. https://bcpl.wisconsin.gov/Pages/SchoolTrustLands.aspx
  5. https://bcpl.wisconsin.gov/Pages/SchoolTrustLands.aspx
  6. Trust Funds, Board of Commissioners of Public Lands
  7. Wisconsin's Common School Fund, Wisconsin Department of Public Instruction
  8. https://bcpl.wisconsin.gov/Pages/CommonSchoolFund.aspx
  9. "Board of Commissioners of Public Lands - Normal School Fund". Bcpl.wisconsin.gov. Retrieved 2010-05-03.
  10. "Board of Commissioners of Public Lands - University Fund". Bcpl.wisconsin.gov. Retrieved 2010-05-03.
  11. "Board of Commissioners of Public Lands - Agricultural College Fund". Bcpl.wisconsin.gov. Retrieved 2010-05-03.
  12. https://bcpl.wisconsin.gov/Pages/CommonSchoolFund.aspx
  13. https://bcpl.wisconsin.gov/Pages/NormalSchoolFund.aspx
  14. https://bcpl.wisconsin.gov/Pages/UniversityFund.aspx
  15. https://bcpl.wisconsin.gov/Pages/AgriculturalCollegeFund.aspx
  16. "Wisconsin Department of Veterans Affairs News Article Page". Dva.state.wi.us. Retrieved 2010-05-03.
  17. https://docs.legis.wisconsin.gov/2013/related/wiscon/wi/X/2
  18. https://docs.legis.wisconsin.gov/2013/related/wiscon/wi/X/8
  19. https://docs.legis.wisconsin.gov/statutes/statutes/24/I/11
  20. https://docs.legis.wisconsin.gov/statutes/statutes/24/I/15
  21. https://bcpl.wisconsin.gov/Pages/LoanProgramHomePage.aspx
  22. https://docs.legis.wisconsin.gov/2013/related/wiscon/wi/X/8
  23. https://docs.legis.wisconsin.gov/constitution/wi/000235/000008
  24. https://bcpl.wisconsin.gov/Pages/AboutCommissioners.aspx
  25. https://bcpl.wisconsin.gov/Shared%20Documents/Board%20Meeting%20Docs/2019/2019-04-02_BoardPacket.pdf
  26. https://bcpl.wisconsin.gov/Pages/Contact.aspx
  27. https://www.linkedin.com/in/tia-nelson-517a8131
  28. https://bcpl.wisconsin.gov/Pages/Contact.aspx
  29. https://bcpl.wisconsin.gov/Shared%20Documents/Board%20Meeting%20Docs/2019/2019-12-17-BoardMtgRecording.mp3
  30. https://www.wslca.org/
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.