summary
Introduced
In Committee
Crossed Over
Passed
Dead
02/16/2024
02/16/2024
Introduced Session
2024 Budget Session
Bill Summary
AN ACT relating to public funds; amending appropriations, loan authority, distributions and transfers of funds as specified; modifying the distribution of revenues as specified; removing encumbrances from specified accounts; eliminating specified guarantees from accounts; specifying the distribution of excess funds as specified; modifying and limiting distributions from reserve accounts as specified; amending and limiting the spending authorization and permissible uses of the legislative stabilization reserve account; making conforming amendments; repealing obsolete language; and providing for an effective date.
AI Summary
This bill makes several changes to public funds in Wyoming. It establishes a spending policy for the Permanent Wyoming Mineral Trust Fund, where 5% of the previous 5-year average market value can be spent annually. It also requires the transfer of investment earnings above this spending policy from the general fund to the Legislative Stabilization Reserve Account (LSRA) starting in fiscal year 2027. The bill limits the use of the LSRA, allowing appropriations or transfers only to permanent funds or the general fund. It also allows the LSRA to be used to supplement the Permanent Wyoming Mineral Trust Fund's spending policy if investment earnings are insufficient. The bill repeals various provisions related to the distribution and spending of severance tax revenues.
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Select Capital Financing & Investments (Other)
Last Action
Did not Consider for Introduction (on 02/16/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.wyoleg.gov/Legislation/2024/HB0056 |
| BillText | https://www.wyoleg.gov/2024/Introduced/HB0056.pdf |
| Fiscal Note | https://www.wyoleg.gov/2024/Fiscal/HB0056.pdf |
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