State public purpose investments-revisions.
In one sentence
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Official record
Summary for LSO115 Bill No.: HB0021 Effective : 7/1/2016 LSO No.: 16LSO-0121 Enrolled Act No.: HEA No. 0053 Chapter No.: 110 Prime Sponsor: Management Audit Committee Catch Title: State public purpose investments-revisions. Subject: Repeals and s unset s pub lic purpose investment programs Summary/Major Elements: Current Wyoming law provides for a varie ty of grant, loan and investment programs and authorizes investment of permanent and non - permanent state funds in these programs. This act repeal s or sunsets the following programs identified as unused or obsolete in the 2015 Management Audit Committee Repor t, Wyoming Public Purpose Investments : The Area Redevelopm ent Program; The Lamb Processing Facility Loan Program ; The Student L oan Standby Commitment Program ; The G uarantee Program for Local Government B onds ; University of Wyoming Advance Payment Cont r act Program ; and T he School District Bond Guarantee Program. In addition, the act make s c onforming amendments for Water Development Project Loans and clarifies terms for Hydro-Power Development Loans relating to the maximum allowable sum for all outstanding loans . The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill .
Public statements
Last checked Aug 7, 12:53 AM
Why they voted this way
The speaker supports the bill because it removes the guarantee program for local government bonds while maintaining state investment in the deferred property tax program, which aligns with the body's previous preference.
Why they voted this way
The speaker explains that the committee decided to keep the Local Government Bond Guarantee Program because some counties believe they may need this option in future economic times.
Why they voted this way
The lawmaker opposes the report because eliminating the property tax deferral program removes a critical relief option for elderly and disabled individuals who have already lost other tax credit programs.
S03
Why they voted this way
The lawmaker opposes the report because eliminating both tax incentive programs and the property tax deferral program removes all available financial relief for elderly and disabled individuals.
R · S30
Why they voted this way
The lawmaker supports the bill because it removes unused and ineffective programs that cause difficulties in managing state funds, noting there were very few users of the program over many years.
Why they voted this way
The lawmaker supports the report because it restores a bond guarantee program that local governments may need during tight financial times, while eliminating a deferred property tax program that costs the state money out of pocket. He also notes that keeping unused programs on the books could create contingent liabilities affecting the state's credit rating.
Why they voted this way
The lawmaker argues that the Senate amendments remove a mechanism allowing counties to receive state funding for property tax deferrals on a cyclical basis, forcing immediate impacts on county budgets which local officials oppose.
Why they voted this way
The lawmaker states that after extensive discussion, the Senate reinstated provisions regarding property tax deferrals that had been removed by the House, and urges members to vote no to allow further negotiation on these changes.
If a lawmaker is not listed, we couldn't find a published reason.
Wyoming roll calls
10 roll calls
Official activity
Changes
6 stored
Failed 2nd reading by Miller
Corrected, Failed Committee of the Whole by Miller
H Adopted, S Failed Conference Committee
H Adopted, S Adopted Conference Committee
Failed Standing Committee by HCorporations
Adopted Standing Committee by SAppropriations