State common school trust land management account.

WORKING DRAFT
2009
STATE OF
WYOMING
09LSO-0028

HOUSE BILL
NO.
HB0015

State
common school
trust land management account.

Sponsored by:
Joint Agriculture, State and
Public

Lands
and Water Resources Interim Committee

A BILL

for

AN ACT relating to state
common school
trust land revenues; funding the management of state
common school
trust lands from state
common school
trust land revenues as specified; creating an account; providing for a continuous appropriation; providing for a report; providing for a sunset; and providing for an effective date.

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

Section 1.

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

9
‑
4
‑
305.

Disposition of state land revenue.

(c)

Except as provided by
subsection
subsections

(b)
and (d)

of this section, rentals for the ordinary use of the state lands, bonuses, interest on purchase money, interest from investment of money in corresponding accounts within the permanent land fund, and any money designated by the Wyoming constitution or Wyoming statutes as collected shall be transmitted to the state treasurer and credited to the proper accounts within the permanent land income fund or to the general fund as provided by the Wyoming Funds Consolidation Act and W.S. 9
‑
4
‑
311.

(d)

T
he state treasurer shall at the beginning of each fiscal year, deposit
if appropriated,
one percent (1%) of the
total
revenues
, including those revenues deposited into the public school capital construction account pursuant to subsection (b) of this section,
received the previous fiscal year from the
sale
of state lands, mineral royalties and other revenues designated by the Wyoming constitution or state law to the
common school
account within the
p
ermanent 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
common school
trust lands.

(e)

The
common school
trust land management account
within the permanent land fund

is created. The
revenue
s provided under subsection (d) of this section shall be appropriated and deposited into the account. Any
earnings
on amounts deposited within the account shall be credited to the
common school
account within the
permanent land
income
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
common school
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
common school
trust land or mineral assets or improve the revenue generated from those assets.

(f)

The
office of state lands and investments
shall submit
a report
to the joint
agriculture, state and public lands and water resources

and joint appropriations interim committees
by
Septemb
er 1
of each year. The report shall include the amount of
revenues deposited
to the
common school
trust land management account, projected revenues, projects
identifi
ed by the office of state lands and investments, projects approved by the board of land commissioners,
actions taken and monies expended pursuant to
subsection (e) of
this
section
.

(g)

Subsections (d) through (f) of this section are
repealed
June 30, 201
5
.

Any funds remaining in the
common school
trust land management account on June 30, 201
5
shall revert to the
common school
account within the
permanent land fund.

Section 2.

This act is effective July 1, 200
9
.

(END)

1
HB0015