HB0118

Official summary

HB0118 Bill Summary Bill No.: HB0118 Drafter: MRW LSO No.: 06LSO-0346 Effective Date: Enrolled Act No.: HEA0043 Chapter No.: 70 Prime Sponsor: Representative Luthi Catch Title: University of Wyoming matching funds. Subject: University of Wyoming academic facilities challenge program. Summary/Major Elements: Past legislation has established matching challenge accounts for the University of Wyoming; the athletics challenge account and the academic challenge account. This bill establishes another challenge account for the University of Wyoming - the academic facilities challenge program. Specifies the state treasurer shall administer the account. Provides for funds to match qualifying contributions. Extends the term of existing matching fund programs of the endowment challenge fund if the gift was received or transferred through December 31, 2009 and the transfer shall occur by December 31, 2014. Provides for reversion of the endowment challenge funds to the general fund on December 31, 2014. Extends the term of existing matching fund programs of the athletic challenge program and the academics challenge matching program to the gift being received by December 31, 2011. Provides appropriations of: $25,000,000 for the endowment challenge account; $6,000,000 for the university athletics challenge account; $9,000,000 to the academic facilities challenge account. Comments: Requires the University of Wyoming to report annually on or before October 1 until 2012, to the State Treasurer. Requires State Treasurer to report annually on or before October 1 until 2011, to the Governor and the Joint Education Interim Committee.