Minnesota voters will decide on a constitutional amendment that would change the policies surrounding the investment and distribution of the Minnesota Permanent School Fund.
On May 16, 2026, the Minnesota state legislature approved House File 3900 (HF 3900), which placed the constitutional amendment on the November 2026 ballot for voters to decide.
On March 2, the amendment was introduced in the Minnesota Legislature as HF 3900. A joint conference committee issued the final version of the bill on May 16. That day, the state House approved HF 3900 in a vote of 134-0. The state Senate then approved HF 3900 in a vote of 43-24. Forty-three Democrats voted ‘yes,’ and 24 Republicans voted ‘no.’
