Local area tourism trade initiative.

WORKING DRAFT
2005
STATE OF WYOMING
05LSO-0667

SENATE FILE
NO.
SF0160

Local area tourism trade initiative.

Sponsored by:
Senator(s) Cooper

A BILL

for

AN ACT relating to local area tourism; creating a trust fund; providing for grants for local area tourism promotion; providing an appropriation; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.
W.S. 9
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801 through 9
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807 are created to read:

ARTICLE 8
LOCAL AREA TOURISM TRADE INITIATIVE TRUST FUND

9
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801.

Definitions.

(a)

As used in this article:

(i)

"Board" means the tourism project approval board created by W.S. 9
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12
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802;

(ii)

"Director" means the director of the Wyoming business council;

(iii)

"Eligible project" means a project by a local governmental entity as defined in W.S. 1
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39
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103(a)(ii) which meets the requirements of W.S. 9
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805(c);

(iv)

"Council" means the Wyoming business council created by W.S. 9
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103.

9
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802.

Tourism project approval board; members; expenses.

(a)

The tourism project approval board shall consist of five (5) members, as follows:

(i)

The state treasurer or his designee;

(ii)

The director or his designee;

(iii)

Three (3) persons representing the interests of the tourism industry appointed by the governor.

(b)

The terms of members appointed under paragraph (a)(iii) of this section shall be for four (4) years. Of the initial appointees under paragraph (a)(iii) of this section, two (2) members shall be appointed for two (2) years and one (1) member shall be appointed for four (4) years. The governor may remove any member appointed under paragraph (a)(iii) of this section as provided in W.S. 9
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202. A vacancy on the board shall be filled for the balance of the unexpired term. The director or his designee shall serve as chairman.

(c)

The board shall meet not less than two (2) times each year. Members shall serve without compensation but shall be reimbursed for expenses incurred in the performance of their official duties in the manner and amounts provided by law for state employees. Members who are government employees or public officials shall be considered on official business of their agency when performing duties as members of the board.

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803.

Board; duties and responsibilities.

(a)

The tourism project approval board shall:

(i)

Review innovative program grants and grant proposals;

(ii)

Approve grant applications in accordance with rules and regulations promulgated by the council to meet the demands of Wyoming's local governments with respect to encouraging, promoting and facilitating tourism in each local area;

(iii)

Review and monitor the expenditure of monies awarded under W.S. 9
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805; and

(iv)

Consider other necessary matters.

(b)

In fulfilling its duties under subsection (a) of this section, the board shall:

(i)

Consult with the council as necessary;

(ii)

Consider and may accept federal grants and other contributions, grants, gifts, bequests and donations from any source.

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804.

Council duties.

(a)

The council shall:

(i)

Maintain, manage and be responsible for the distribution of the funds appropriated for distribution under W.S. 9
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805;

(ii)

Disburse the funds appropriated in accordance with awards made by the board pursuant to W.S. 9
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805.

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805.

Disbursement of grants.

(a)

From the funds available for distribution, the board may award grants to local governments throughout the state to support the purposes specified in W.S. 9
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803(a)(ii). The council shall disburse the funds in accordance with awards made by the board under this section.

(b)

Notwithstanding W.S. 9
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207, unobligated or unencumbered funds retained by the council under this section shall not lapse at the end of a fiscal period and shall remain available for distribution as provided in this section.

(c)

The council shall by rule and regulation establish a process for application and approval of projects and for distribution of funds available for distribution under this section. Projects may be approved in each county only to the extent funds are available in the individual county's account created under W.S. 9
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12
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807. Applications for eligible projects shall:

(i)

Define the project in terms of the specific goal to be attained;

(ii)

Clearly state how the project will meet the specific goal;

(iii)

Include a complete estimated cost using either accepted averages or actual construction bids, a financial operational budget projection and a profit and loss projection;

(iv)

Include a marketing study or analysis stating the merits of the project.

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806.

Biennial report by board; audit.

(a)

Beginning September 1, 2005, the board shall report to the council, the governor and the joint travel, recreation, wildlife and cultural resources interim committee no later than September 1 of each year with respect to the grants awarded, and how those grants have benefited tourism in the state.

(b)

The director of the department of audit or his designee shall audit the trust fund and individual county accounts created by W.S. 9
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807 biennially. The initial audit shall occur not later than June 30, 2006. A report on the audit shall be provided to the council, the board, the governor and the joint travel, recreation, wildlife and cultural resources interim committee no later than December 31 of the year in which the audit occurs.

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807.

Local area tourism trade initiative trust fund established; investment by state treasurer.

(a)

An account is established which shall be referred to as the l
ocal area tourism trade initiative

trust fund. The trust fund shall consist of those funds designated to the account by law and other contributions, grants, gifts, bequests and donations to the trust fund. Within the account there shall be twenty-three (23) separate accounts corresponding to each county within the state. The corpus of the trust fund shall be divided equally between the twenty-three (23) separate accounts.

(b)

The monies deposited into the trust fund established pursuant to this section shall be transmitted to the state treasurer for credit to the trust fund and shall be invested by the state treasurer as authorized under W.S. 9
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711 in a manner to obtain the highest return possible consistent with the preservation of the corpus. The investment interest earned from investment of the corpus of the trust fund shall be annually credited by the state treasurer not later than June 30 of each year as follows:

(i)

All investment interest earned shall be divided into twenty-three (23) equal portions, deposited into twenty-three (23) separate accounts corresponding to each county within the state and distributed for projects in each county in accordance with W.S. 9
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805.

Section 2.

There is appropriated two hundred thirty million dollars ($230,000,000.00) from the budget reserve account to the local area tourism trade initiative trust fund created by this act.

Section 3.
This act is effective July 1, 2005.

(END)

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SF0160