HJ0002

Bill Summary - 26LSO-0166 Bill No.: HJ0002 Effective: Immediately LSO No.: 26LSO-0166 Enrolled Act No.: HEJR No. 0001 Chapter No.: N/A Prime Sponsor: Select Federal Natural Resource Management Committee Catch Title: Federal mineral royalties-state share. Has Report: No Subject: Wyoming's share of federal mineral royalties on federal lands located within Wyoming. Summary/Major Elements: This joint resolution requests Congress to introduce a bill and enact law to increase the state of Wyoming's share of federal mineral royalties from fifty percent (50%) to eighty-seven and one-half percent (87.5%). This joint resolution provides that the revenue distribution must be consistent with federal statutory formulas except the two percent (2%) administrative cost deduction must be allocated to and retained by Wyoming instead of the federal government. This joint resolution makes findings regarding the federal Mineral Leasing Act, the distribution of federal mineral royalties, and the recent reduction in the federal mineral royalty rate. 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.