The Greater Phoenix Chamber of Commerce said last week that it is in full support of the passage of Proposition 123, which will continue to propel the educational system on a rising path.

The proposition is part of an agreement between education groups and state leaders to settle a lawsuit against the state. Now that the lawsuit is settled, the educational system can refocus on delivering a high quality education to Arizona students.

As part of the proposition, K-12 schools will be entitled to $3.5 billion over the next 10 years and, with the approval of voters, classrooms will begin to see those funds during the current fiscal year. The proposal will rely heavily on the state’s land trust increasing its distribution.

The state land trust was originally conceived to help fund the education system. Even though the trust is currently on solid financial ground and its performance of late has been strong, there have been safeguards included in the proposition to ensure that the trust will remain in good financial terms.

“The passage of this proposition will greatly strengthen Arizona’s educational system and allow the state to invest needed resources into other key areas,” Greater Phoenix Chamber of Commerce President and CEO Todd Saunders said. “This funding for K-12 will have a positive impact on our teachers and schools and increases classroom spending for students.”