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HJ0004 • 2006

Permanent Wyoming mineral trust fund.

A JOINT RESOLUTION relating to the Wyoming Constitution; specifying that all monies deposited in the permanent Wyoming mineral trust fund are inviolate.

Budget Land Taxes
Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor
Appropriations
Last action
2006-03-24
Official status
enrolled
Effective date
Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

HJ0004S3001

3rd reading • MOCKLER

Adopted

Plain English: Adopted 3rd reading by MOCKLER

  • This amendment summary is using official source text because generated interpretation was skipped for this run.
  • The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

Bill History

  1. 2006-03-24 Governor

    Governor Signed HEJR No. 0001

  2. 2006-03-10 Senate

    S President Signed HEJR No. 0001

  3. 2006-03-10 House

    H Speaker Signed HEJR No. 0001

  4. 2006-03-09 LSO

    Assigned Number HEJR0001

  5. 2006-03-09 Senate

    S Adopted HJ0004JC01

  6. 2006-03-08 House

    H Adopted HJ0004JC01

  7. 2006-03-06 Senate

    S Appointed JCC01 Members

  8. 2006-03-06 House

    H Appointed JCC01 Members

  9. 2006-03-06 House

    H Did Not Concur

  10. 2006-03-03 House

    H Received for Concurrence

  11. 2006-03-03 Senate

    S Passed 3rd Reading

  12. 2006-03-03 Senate

    Amendment Adopted

  13. 2006-03-03 Senate

    S Amendments Adopted

  14. 2006-03-02 Senate

    S Passed 2nd Reading

  15. 2006-03-01 Senate

    S Passed CoW

  16. 2006-02-28 Senate

    S Placed on General File

  17. 2006-02-28 Senate

    S02 Recommended Do Pass

  18. 2006-02-24 Senate

    S Introduced and Referred to S02

  19. 2006-02-17 Senate

    S Received for Introduction

  20. 2006-02-17 House

    H Passed 3rd Reading

  21. 2006-02-16 House

    H Passed 2nd Reading

  22. 2006-02-15 House

    H Passed CoW

  23. 2006-02-15 House

    H Placed on General File

  24. 2006-02-15 House

    H02 Recommended Do Pass

  25. 2006-02-13 House

    H Introduced and Referred to H02

  26. 2006-02-13 House

    H Received for Introduction

  27. 2006-01-27 LSO

    Bill Number Assigned

Official Summary Text

HJ0004 Bill Summary

Bill
No.:
HJ0004

Drafter:

DKG

LSO
No.:

06LSO-0045

Effective Date:

Enrolled
Act No.:

HEJR0001

Chapter
No.:

Prime
Sponsor:

Joint Appropriations Interim Committee

Catch
Title:

Permanent Wyoming mineral trust fund.

Subject:

The inviolate nature of funds
within the permanent Wyoming mineral trust fund.

Summary/Major
Elements:

The permanent
Wyoming mineral trust fund (PWMTF) was established in the Constitution to be an
inviolate fund with earnings on the corpus to be deposited to the general fund.

The constitution
requires a 1.5% severance tax on certain minerals to be deposited to the fund.
The legislature has by law deposited additional severance taxes and other
monies into the fund.

The attorney
general opined this past year that only the 1.5% required by the constitution
was "inviolate"; the other monies could be withdrawn from the PWMTF.

This resolution
specifies that all monies within the PWMTF, regardless of the source of funds
are inviolate.

Current Bill Text

Read the full stored bill text 
WORKING DRAFT

ORIGINAL HOUSE

JOINT RESOLUTION
NO.
0004

ENROLLED JOINT RESOLUTION NO.
1
, HOUSE OF REPRESENTATIVES

FIFTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
2006 BUDGET SESSION

A JOINT RESOLUTION relating to the Wyoming Constitution; specifying that all monies deposited in the permanent Wyoming mineral trust fund are inviolate.

BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF WYOMING,
two-thirds of all the members of the two houses, voting separately, concurring therein:

Section 1.
The following proposal to amend Wyoming Constitution, Article 15, Section 19 is proposed for submission to the electors of the State of Wyoming at the next general election for approval or rejection to become valid as a part of the Constitution if ratified by a majority of the electors at the election:

Article 15, Section 19.

Mineral excise tax; distribution.

The Legislature shall provide by law for an excise tax on the privilege of severing or extracting minerals, of one and one-half percent (1

1/2%) on the value of the gross product extracted. The minerals subject to such excise tax shall be coal, petroleum, natural gas, oil shale, and such other minerals as may be designated by the Legislature. Such tax shall be in addition to any other excise, severance or ad valorem tax. The proceeds from such tax shall be deposited in the Permanent Wyoming Mineral Trust Fund
.
, which

The
fund
, including all monies deposited in the fund from whatever source,
shall remain inviolate. The monies in the fund shall be invested as prescribed by the Legislature and all income from fund investments shall be deposited by the State Treasurer in the general fund on an annual basis. The Legislature may also specify by law, conditions and terms under which monies in the fund may be loaned to political subdivisions of the state.

Section 2.
That the Secretary of State shall endorse the following statement on the proposed amendment:

The adoption of this amendment would clarify that all monies deposited in the Permanent Wyoming Mineral Trust Fund are inviolate permanent funds of the state.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the House.

Chief Clerk

1