AUSTIN — Today, Texas Land Commissioner Dawn Buckingham, M.D. and the School Land Board (SLB) announced plans to publish a Request for Proposals (RFP) for several carbon sequestration leases. These leases will generate significant revenue for the Permanent School Fund (PSF), a constitutionally created fund that helps support public education in Texas.

The RFP will result in leases covering submerged portions of Permanent School Fund land in the Brownsville, Matagorda, and Freeport areas, with more than one million acres available in the lease offering. GLO will publish the RFP after February 6, 2024 and it will remain open for submissions for at least 90 days after publication.

In addition to this press release, the GLO posted a Notice of Intent to Publish to our state procurement website. This notice, which includes a location map, is available for download at: https://www.txsmartbuy.com/esbddetails/view/Pre-RFP24-SLB-1-LP

For questions please contact Linh Phan at linh.phan@glo.texas.gov.

In August of 2023, Commissioner Buckingham awarded six carbon sequestration leases that will generate over $10 billion for Texas's school children over the course of the 30-year term.