1017 Fund, What's That?
The 1017 Fund, or Education Reform Revolving Fund, is a dedicated revenue fund that is appropriated to the State Department of Education. The fund initially consisted of personal and corporate income tax, sales tax, and use tax revenues attributable to the revenue provisions of HB 1017. In addition, a portion of cigarette and tobacco tax revenues and of tribal gaming and horse track gaming revenues are also now allocated to the 1017 Fund.
In FY 2015, $731.2 million was appropriated from the 1017 Fund, representing 29.4 percent of total state appropriations to the Department of Education.