Use Dix proceeds as seed money for Teacher Endowment Fund

Yesterday, Lieutenant Governor Dan Forest proposed creation of the North Carolina Teacher Endowment Fund, a permanent fund that would provide alternative funding source for teacher compensation.

Forest suggested that the legislature could tap a few revenue sources for the fund, such as proceeds from a “teachers are groovy” license plate, a tax refund checkoff for individuals and corporations, and a tax-deductible contribution option for taxpayers.

Perhaps proceeds from the sale of the Dorothea Dix property to the City of Raleigh, if it ever occurs, is another possibility.  It could provide $50 or $60 million in seed money for the fund.  Not too shabby.

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