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Wyoming2020Vetoed

SF0138

Investment of State Funds for Real Property

Last scannedAug 25, 2026, 2:25 AM

In one sentence

This act allows the state loan and investment board to purchase real property assets within Wyoming or neighboring states, with specific requirements and funding sources.

What it does

  • Authorizes the state loan and investment board to buy real property assets in Wyoming or nearby states.
  • Requires thorough analysis of asset value and impact before any purchase.
  • Specifies that purchases must follow prudent investor rules and be funded from designated state accounts, including a $150 million limit on one account.
  • Recommends public notice and comment period for proposed purchases, with at least one public hearing in affected areas.
  • Requires legislative approval prior to entering into any purchase agreement.

Who it affects

  • The state loan and investment board
  • Local governments receiving property tax reimbursements

Limits and unknowns

  • The bill was vetoed by the governor on March 30, 2020.
  • It is unclear if and when lawmakers will override this veto.

Plain language

Terms to know

Prudent Investor Rule
A set of guidelines that require investors to act with care, skill, diligence, and caution.
Due Diligence
The process of investigating a business or person before signing a contract, loan agreement, etc., to avoid any risk.

Official record

Sources

Validated

Public statements

Why lawmakers voted

Last checked Aug 11, 6:33 PM

Voted Yes

Why they voted this way

The lawmaker supports the bill because it provides flexibility to evaluate potential deals at an opportune time while maintaining confidence in legislative oversight.

Public statementFloor statement at 5:46:00 Watch the statement
Voted No

Why they voted this way

The speaker argues against concurring because the House replaced the original bill with a longer substitute containing significant differences, requiring further reconciliation.

Public statementFloor statement at 5:53:01 Watch the statement
Voted Yes

Why they voted this way

The lawmaker supports the amendment because it ensures every senator has an opportunity to cast a vote on this significant deal.

Public statementFloor statement at 2:38:37 Watch the statement

Bill Landen

R · S27

Voted Yes

Why they voted this way

The lawmaker supports the amendment because a vote of such magnitude should happen in front of everyone to ensure full discussion and detail gathering.

Public statementFloor statement at 2:39:20 Watch the statement

Cale Case

R · S25

Voted Yes

Why they voted this way

The lawmaker supports the amendment because legislators are more connected to their constituents and need a formal session to gather input before voting.

Public statementFloor statement at 2:40:20 Watch the statement
Voted Yes

Why they voted this way

The lawmaker supports the amendment because constituents feel more comfortable knowing there is full legislative approval for such a major transaction.

Public statementFloor statement at 2:41:47 Watch the statement
Voted Yes

Why they voted this way

The lawmaker supports the amendment because appropriating funds for property purchases is a primary responsibility of the legislative branch.

Public statementFloor statement at 2:43:10 Watch the statement
Voted Yes

Why they voted this way

The lawmaker supports the second amendment because setting aside specific money ensures that public involvement efforts are adequately funded.

Public statementFloor statement at 2:45:44 Watch the statement
Voted Yes

Why they voted this way

The lawmaker supports the bill to allow the state to diversify its investments by purchasing real property assets, minerals, and royalties for long-term benefits including recreation and school funding.

Public statementFloor statement at 1:42:00 Watch the statement

If a lawmaker is not listed, we couldn't find a published reason.

Wyoming roll calls

Recorded votes

9 roll calls

H Adopted SF0138JC002: 46-10-4-0-02020-03-12 · House46 yes 10 no
S Adopted SF0138JC002: 24-3-3-0-02020-03-12 · Senate24 yes 3 no
S Concur:Failed 0-29-1-0-02020-03-11 · Senate0 yes 29 no
H 3rd Reading:Passed 43-16-1-0-02020-03-11 · House43 yes 16 no
H02 - Appropriations:Recommend Amend and Do Pass 5-2-0-0-02020-03-09 · House5 yes 2 no
S 3rd Reading:Passed 28-2-0-0-02020-02-27 · Senate28 yes 2 no
Amendment adopted 30-0-0-0-02020-02-27 · Senate30 yes 0 no
S02 - Appropriations:Recommend Amend and Do Pass 5-0-0-0-02020-02-19 · Senate5 yes 0 no
S Introduced and Referred to S02 - Appropriations 30-0-0-0-02020-02-14 · Senate30 yes 0 no

Official activity

Bill history

  1. Governor Vetoed SEA No. 0069 Governor
  2. Veto Message Received
  3. H Speaker Signed SEA No. 0069House
  4. S President Signed SEA No. 0069Senate
  5. Assigned Number SEA No. 0069LSO
  6. Pursuant to JR 2-1(c): H Appointed JCC02 MembersHouse
  7. Pursuant to JR 2-1(c):S Appointed JCC02 MembersSenate
  8. H Appointed JCC01 MembersHouse
  9. S Appointed JCC01 MembersSenate
  10. S Concur:Failed 0-29-1-0-0Senate
  11. S Received for ConcurrenceSenate
  12. H 3rd Reading:Passed 43-16-1-0-0House
  13. H 2nd Reading:PassedHouse
  14. H COW:PassedHouse
  15. H Placed on General FileHouse
  16. H02 - Appropriations:Recommend Amend and Do Pass 5-2-0-0-0House
  17. H Introduced and Referred to H02 - AppropriationsHouse
  18. H Received for IntroductionHouse
  19. S 3rd Reading:Passed 28-2-0-0-0Senate
  20. S 2nd Reading:PassedSenate

Changes

Amendments

9 stored

SF0138HW001

The amendment changes the wording in four places of the bill to clarify that payments related to property taxes are for reimbursement purposes and that funds used or managed under the act should be referred to as investments rather than expenditures.

SF0138HW002

The amendment removes specific sections and lines from the bill text and makes a minor change to include 'the legislative stabilization reserve account' in one section.

SF0138HS001

The amendment approves the adoption of Substitute No. 1 for SF0138.

SF0138S2001

The amendment removes previous sections and replaces them with new provisions that authorize the state loan and investment board to purchase real property assets within Wyoming and neighboring states, subject to certain requirements.

SF0138S3001

The amendment requires the state loan and investment board to make information about proposed real property purchases public, gather public comments, hold at least one informational hearing in affected areas, and get legislative approval before making any purchase.

SF0138S3002

The amendment adds a new section that appropriates $75,000 from the general fund to the state loan and investment board for specific tasks.

SF0138JC001

This amendment requests the appointment of a new conference committee because the original one could not reach an agreement.

SF0138JC002

The amendment modifies the bill to set a spending limit from the legislative stabilization reserve account, change certain procedural requirements for asset purchases, and make other technical adjustments.

SF0138SS001

The amendment modifies the bill by allowing federal grants and contributions for state purchases of real property assets, changing references from 'income' to 'earnings', adding conditions for asset disposal, and making other minor edits.