State Funds - Pool A Participation and Fund Limits
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Bill Summary - 24LSO-0135 Bill No.: HB0138 Effective: 7/1/2024 LSO No.: 24LSO-0135 Enrolled Act No.: HEA No. 0051 Chapter No.: 87 Prime Sponsor: Select Committee on Capital Financing & Investments Catch Title: State funds-pool A participation and fund limits. Has Report: No Subject: Investment of state funds - Pool A participation. Summary/Major Elements: Pool A is an investment pool offered to a specified list of approximately fifteen (15) governmental funds. The pool is designed for larger funds that can be invested in longer-term investments that typically enjoy higher investment yields. The pool is not designed to act like a checking account where monies are constantly moving in and out of the pool. This bill places a new minimum balance threshold of five million dollars ($5,000,000.00) for new funds admitted into Pool A. The bill removes three (3) accounts from participation in Pool A. All three (3) of these accounts were authorized to participate in Pool A, but did not participate. The three (3) accounts are: 1) the Wyoming Military Assistance Trust Fund created by W.S. 19-7-401; 2) the Wyoming National Guard Youth Challenge Program Endowment Account created by W.S. 19-7-207; and 3) the Emergency Medical Services Sustainability Trust Account created by W.S. 33 ‑ 36 ‑ 115. The bill makes clear that funds associated with the Voluntary Pool Program in the Voluntary Pool Program Subaccount within the Emergency Water Projects Account are not eligible for placement in Pool A. The bill appropriates approximately two million dollars ($2,000,000.00) to each of the Wyoming Public Television Matching Funds Account and the State Fair Endowment Account to bring each account up to a five million dollars ($5,000,000.00) balance. 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 11, 6:23 PM
R · H07
Why they voted this way
The speaker argues that the Senate amendments would remove funding for Wyoming Public Television, preventing it from meeting a minimum balance requirement needed to keep its money invested in Pool A and earn returns.
R · S05
Why they voted this way
The lawmaker supports the amendment to be consistent by funding both programs fully rather than singling one out, allowing them to participate in Pool A to the fullest extent.
R · S01
Why they voted this way
The lawmaker opposes the amendment, arguing it is inappropriate to use investment policy changes as a way to punish an agency they dislike instead of bringing direct legislation.
R · S02
Why they voted this way
The lawmaker opposes the amendment because they believe it is outside the scope of this legislation, which focuses on increasing returns rather than addressing issues with state-funded TV.
Why they voted this way
The lawmaker supports removing the appropriation so that the treasurer can administer Pool A without jeopardizing the final vote on the bill.
R · S04
Why they voted this way
The lawmaker opposes the amendment, stating that removing the funding would create a disparity among funds and prevent achieving long-term investment equity.
R · S19
Why they voted this way
The lawmaker supports the amendment to add money to a fund in what they describe as a sneaky way, while noting that public media is partisan.
R · H37
Why they voted this way
The lawmaker withdrew an amendment because they mistakenly approved it, noting that the bill was on a consent list and is considered good.
Why they voted this way
The lawmaker explains that the bill tightens participation qualifications and sets a $5 million minimum balance to prevent capital losses caused by excessive transaction traffic. They also state the change is necessary to make fund administration more manageable for overworked investment staff.
Wyoming roll calls
9 roll calls
Official activity
Changes
3 stored
The amendment adds a new section to the bill that creates a pool B investment account for certain funds and specifies how these funds should be invested.
The amendment removes certain Senate amendments from HB0138.
The amendment changes the bill's language regarding appropriations and removes certain sections related to pool A investment account participation.