summary
Introduced
01/23/2025
01/23/2025
In Committee
02/18/2025
02/18/2025
Crossed Over
02/04/2025
02/04/2025
Passed
Dead
03/03/2025
03/03/2025
Introduced Session
Potential new amendment
2025 General Session
Bill Summary
AN ACT relating to public funds; amending spending policy amounts for earnings from the investment of permanent funds; and providing for an effective date.
AI Summary
This bill modifies the spending policy for Wyoming's Permanent Mineral Trust Fund by reducing the annual spending percentage from five percent (5%) to four and one-half percent (4.5%) of the fund's previous five-year average market value. The Permanent Mineral Trust Fund is a state investment fund generated from mineral resource revenues, and this change will slightly decrease the amount of money that can be withdrawn and spent each fiscal year. The bill specifies that this new spending policy will take effect on July 1, 2025, giving state financial planners and administrators advance notice of the upcoming change. By reducing the withdrawal rate, the bill aims to potentially preserve more of the fund's principal and ensure long-term financial stability for the state by allowing more investment earnings to remain in the fund and potentially grow over time.
Committee Categories
Budget and Finance
Sponsors (10)
Bill Allemand (R)*,
Abby Angelos (R)*,
John Bear (R)*,
Larry Hicks (R)*,
Dan Laursen (R)*,
Troy McKeown (R)*,
Ken Pendergraft (R)*,
Darin Smith (R)*,
Scott Smith (R)*,
Cheri Steinmetz (R)*,
Last Action
S:Died in Committee Returned Bill Pursuant to SR 5-4 (on 03/03/2025)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.wyoleg.gov/Legislation/2025/HB0270 |
| Representative Harshman | https://wyoleg.gov/2025/Amends/HB0270H3001.pdf |
| Representative Harshman | https://wyoleg.gov/2025/Amends/HB0270H2001.pdf |
| BillText | https://www.wyoleg.gov/2025/Introduced/HB0270.pdf |
| Fiscal Note | https://www.wyoleg.gov/2025/Fiscal/HB0270.pdf |
Loading...