Federal mineral lease payments.

WORKING DRAFT
2007
STATE OF
WYOMING
07LSO-0564

SENATE FILE
NO.
SF0140

Federal mineral lease bonus payments.

Sponsored by:
Senator(s) Mockler and Von Flatern

A BILL

for

AN ACT relating to administration of government; redistributing certain federal mineral lease bonus payments to the state highway fund for a specified period; repealing related obsolete provisions; and providing for an effective date.

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

Section 1.

W.S. 9
‑
4
‑
601(b)(i)
(intro)
, (iv)(A)
,
(B) and (v) is amended to read:

9
‑
4
‑
601.

Distribution and use; funds, accounts, cities and towns benefited; exception for bonus payments.

(b)

The state treasurer shall ascertain and withhold all bonus payments received from the federal government attributable to coal, oil shale or geothermal leases of federal land within
Wyoming
and shall distribute it as follows:

(i)

Fifty percent (50%), the first seven million five hundred thousand dollars ($7,500,000.00) of which shall be distributed as follows
, but for the fiscal years beginning July 1, 2004 and July 1, 2005 any amount in excess of seven million five hundred thousand dollars ($7,500,000.00) shall be deposited in accordance with paragraph (v) of this subsection,
and
thereafter

any amount in excess of seven million five hundred thousand dollars ($7,500,000.00) per year shall be deposited into the school capital construction account established under W.S. 21
‑
15
‑
111(a)(i):

(iv)

And:

(A)

Ten percent (10%) but not to exceed one million six hundred thousand dollars ($1,600,000.00) per year, to a separate account which may be expended by the community college commission in accordance with and in addition to appropriations available under W.S. 21
‑
18
‑
205(c).
For the fiscal years beginning July 1, 2004 and July 1, 2005, any amount in excess of one million six hundred thousand dollars ($1,600,000.00) shall be deposited in accordance with paragraph (v) of this subsection. Thereafter

A
ny amount in excess of one million six hundred thousand dollars ($1,600,000.00) together with any unexpended revenues within the account at the end of any biennial budget period shall be credited to the school capital construction account established under W.S. 21
‑
15
‑
111(a)(i);

(B)

For the fiscal years beginning

July 1, 2004 and July 1, 2005
July 1, 2007 through July 1, 2010
,

forty percent (40%) to be deposited in accordance with paragraph (v) of this subsection and thereafter to the school capital construction account established under W.S. 21
‑
15
‑
111(a)(i).

(v)

For the fiscal years beginning
July 1, 2004 and July 1, 2005
July 1, 2007 through July 1, 2010
,
after making the distributions provided for in paragraphs (i) and (iv) of this subsection
the following amounts, as limited by and as reduced in accordance with this paragraph, shall be deposited
in the business ready community account

to the state highway fund

established by
W.S.

9
‑
12
‑
602
24
‑
1
‑
119
. The amounts specified shall be deposited to the
business ready community account
highway fund

in the fiscal year specified but only if as of July 1 of the specified fiscal year, using the most recent consensus revenue estimating group estimates, there is projected to be a positive balance in the school capital construction account as of June 30 of that fiscal year, after all appropriations from that account for the purposes specified in W.S. 21
‑
15
‑
111(a)(i), for that fiscal year are deducted. Amounts deposited to the
business ready community account
highway fund
pursuant to this paragraph shall be deposited as provided by W.S. 9
‑
4
‑
602. These deposits shall be reduced as necessary to maintain a projected positive balance in the school capital construction account after all appropriations from that account for the purposes specified in W.S. 21
‑
15
‑
111(a)(i), for the applicable fiscal year, are deducted. After the amounts are deposited in the
business ready community account
highway fund
in accordance with this paragraph, any remaining amounts shall be deposited in the school capital construction account established under W.S. 21
‑
15
‑
111(a)(i):

(A)

For the fiscal year commencing
July 1,
2004
2007
–
seven million five hundred thousand dollars ($7,500,000.00)
fifty million dollars ($50,000,000.00)
;

(B)

For the fiscal year commencing
July 1,
2005
2008
-
ten million dollars ($10,000,000.00)
.

fifty million dollars ($50,000,000.00);

(C)

For the fiscal year commencing July 1, 2009 – fifty million dollars ($50,000,000.00);

(D)

For the fiscal year commencing July 1, 2010 – fifty million dollars ($50,000,000.00)
.

Section 2.

This act is effective July 1, 2007.

(END)

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SF0140