Bill > HB0294

This bill modifies how Wyoming distributes federal mineral royalties by changing the allocation of revenues that exceed certain thresholds. For fiscal year 2025, revenues exceeding $549.4 million will be distributed according to existing rules, but starting in fiscal year 2026, any revenues above the amount estimated in the most recent even-year revenue forecast will be split equally between two reserve accounts: the common school permanent fund reserve account and the permanent Wyoming mineral trust trust fund reserve account. The bill removes previous provisions related to mineral royalty distributions from subsections (k), (m), and (n) of the existing law, effectively streamlining the distribution process. This change aims to provide a more flexible and forward-looking approach to managing the state's mineral royalty revenues, ensuring that excess funds are systematically allocated to important state reserve accounts. The bill will take effect on July 1, 2025, giving state financial managers time to prepare for the new distribution methodology.