SF0089

Official summary

Bill No.: <billno> Drafter: <drafterinit> Bill No.: SF0089 Drafter: JDA LSO No.: 09LSO-0418 Effective Date: 7/1/2009 Enrolled Act No.: SEA0079 Chapter No.: 209 Prime Sponsor: Senator Landen Catch Title: Fallen heroes endowments. Subject: Summary/Major Elements: This bill provides that, to the extent funds are available in the endowment challenge fund, the community colleges and the University of Wyoming may receive matching funds for funds actually received in a fallen heroes endowment fund. Under existing law, the state makes matching distributions from the endowment challenge fund only if the University receives a donation of at least fifty thousand dollars or if a community college receives a donation of at least ten thousand dollars. ● This bill provides an exception to those specified donation amount requirements for the establishment of fallen heroes endowments by authorizing a three thousand dollar state distribution from existing challenge accounts for the first one thousand dollars actually received in a fallen heroes endowment and a two thousand dollar state distribution for the second one thousand dollars actually received for a maximum distribution of five thousand dollars per fallen heroes endowment. Note: Final action on this bill was not taken at the time this summary was prepared. Should changes be made to the bill upon final passage, an updated summary will be transmitted to all legislators.