State trust land management account-3.

WORKING DRAFT
2007
STATE OF
WYOMING
07LSO-0395

HOUSE BILL
NO.
HB0117

State trust land management account-3.

Sponsored by:
Representative(s) Diercks and Senator(s) Geis

A BILL

for

AN ACT relating to state trust land revenues; funding the management of state trust lands from state trust land revenues as specified; creating an account; and providing for an effective date.

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

Section 1.

W.S. 9
‑
4
‑
305 by creating new subsections (d) and (e)
is
amended to read:

9
‑
4
‑
305.

Disposition of public land revenue.

(d)

Notwithstanding subsection (b) of this section or any other provision of law, the state treasurer shall at the beginning of each fiscal year, deposit one percent (1%) of the revenues received the previous fiscal year from the lease of state lands, mineral royalties and other revenues designated by the Wyoming constitution or state law to the permanent land fund, less any unobligated funds remaining in the account created under subsection (e)
of this section
from the previous year, into the account created under subsection (e)
of this section
for the management of state trust lands.

(e)

The trust land management account is created. Any interest earned on amounts deposited within the account shall be credited to the permanent land fund. Expenditures from the account created under this subsection shall be made with the approval of the board of land commissioners for the management of state trust lands by the office of state lands and investments solely for capital investment and other projects that will preserve or enhance the value of the state trust land or mineral assets or improve the revenue generated from those assets.

Section 2.

This act is effective July 1, 2007.

(END)

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HB0117