Bill

Bill > HB0208


WY HB0208

School foundation program reserve account-investments.


summary

Introduced
01/24/2023
In Committee
02/21/2023
Crossed Over
02/08/2023
Passed
03/01/2023
Dead
03/03/2023

Introduced Session

Potential new amendment
2023 General Session

Bill Summary

AN ACT relating to school finance; authorizing the investment of the school foundation program reserve account in equities; amending the deposit of investment earnings into the account; and providing for an effective date.

AI Summary

This bill authorizes the investment of the school foundation program reserve account in equities, including stocks of corporations. It also amends the deposit of investment earnings from the account, specifying that all investment earnings shall be credited to the account rather than the general fund. The state treasurer or their designee, who must be registered under the Investment Advisor's Act of 1940 if required, will be responsible for investing the funds in accordance with specified investment policies. The bill aims to preserve the balance of the account and achieve the highest possible risk-adjusted total net return consistent with an appropriate level of safety and liquidity.

Committee Categories

Budget and Finance

Sponsors (0)

No sponsors listed

Other Sponsors (1)

Appropriations (J)

Last Action

postponed indefinitely (on 03/03/2023)

bill text


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