Exempting Banking Division Employees from State Salary Rules
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Bill Summary - 24LSO-0258 Bill No.: SF0041 Effective: 7/1/2024 LSO No.: 24LSO-0258 Enrolled Act No.: SEA No. 0065 Chapter No.: 100 Prime Sponsor: Joint Minerals, Business & Economic Development Interim Committee Catch Title: Banking division-classification and salary exemptions. Has Report: Yes Subject: Banking division employee salaries and classification. Summary/Major Elements: This bill exempts employees of the Division of Banking from the Department of Administration and Information classification system. It allows the Commissioner of Banking, in consultation with and subject to the approval of the Governor, to establish personnel classifications and salaries for Division employees. It requires the salaries to be commensurate with other state and federal financial regulators. This bill provides an appropriation for the purposes of any salary increases arising from the new classification and salary system. Comments: Requires a report to the Joint Appropriations Committee upon the creation of the new classifications and salaries. 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 5, 10:23 PM
D · S09
Why they voted this way
The lawmaker supports concurring with the House amendment because it adds limitations to the bill's scope, which aligns with original expectations.
R · H09
Why they voted this way
The lawmaker opposes the bill because he believes treating one set of state employees differently than others is inconsistent and inappropriate. He argues that salary increases should happen through a uniform process for all departments rather than carving out exceptions.
R · H18
Why they voted this way
The lawmaker opposes the bill because it allows a specific division to set its own wages outside the standard legislative process, creating an unfair carve-out. He argues that other departments facing similar retention issues should not be treated differently.
H42
Why they voted this way
The lawmaker opposes the bill because he believes it creates a logical contradiction where auditors cannot be properly overseen if they are given special exemptions. He warns against setting a precedent for carving out agencies from standard rules.
Why they voted this way
The lawmaker supports the bill because it addresses wage compression issues within the banking division using fees paid by the banks themselves. He notes that the banking industry favors this approach to ensure smoother operations.
D · H16
Why they voted this way
The lawmaker supports the bill by clarifying that legislative oversight remains intact through budget and reporting processes. He argues that lawmakers already carve out their own compensation, making this distinction less significant.
Why they voted this way
The lawmaker argues for supporting the bill because it allows an agency funded by industry fees, rather than general funds, to adjust wages based on market needs. He emphasizes that regulated businesses want a return on their investment and have explicitly requested this change.
Wyoming roll calls
10 roll calls
Official activity
Changes
3 stored
The amendment removes a specific line from the bill that relates to banking employees and their classification and salary exemptions.
The amendment adds a new section to provide an appropriation of $700,000 for salary increases in the division of banking from July 1, 2024, to June 30, 2026.
The amendment changes how personnel classifications and salaries for employees of the division of banking are established by replacing references to the state banking board with the state banking commissioner, who must consult with and get approval from the governor.