SF0135 • 2011

University of Wyoming-federal mineral royalties.

AN ACT relating to public funds; amending requirements for the use of federal mineral royalties distributed to the University of Wyoming; providing for reports; and providing for an effective date.

Budget Land

Enacted

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

Sponsor: Senator Nicholas, Phil
Last action: 2011-02-18
Official status: enrolled
Effective date: 7/1/2011

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.

SF0135S2001

2nd reading • BEBOUT

Adopted

Plain English: Adopted 2nd reading by BEBOUT

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.

SF0135SS001

Standing Committee • NICHOLAS,P

Adopted

Plain English: Adopted Standing Committee by NICHOLAS,P

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

2011-02-18 LSO
Assigned Chapter Number
2011-02-18 Governor
Governor Signed SEA0032
2011-02-16 House
H Speaker Signed SEA No. 0032
2011-02-16 Senate
S President Signed SEA No. 0032
2011-02-15 LSO
Assigned Number SEA0032
2011-02-15 House
H Passed 3rd Reading
2011-02-14 House
H Passed 2nd Reading
2011-02-11 House
H Passed CoW
2011-02-09 House
H Placed on General File
2011-02-09 House
H02 Recommended Do Pass
2011-02-07 House
H Introduced and Referred to H02
2011-02-07 House
H Received for Introduction
2011-02-04 Senate
S Passed 3rd Reading
2011-02-03 Senate
S Passed 2nd Reading
2011-02-03 Senate
Amendment Adopted
2011-02-02 Senate
S Passed CoW
2011-02-02 Senate
S Amendments Adopted
2011-02-02 Senate
Amendment Adopted
2011-02-01 Senate
S Placed on General File
2011-02-01 Senate
S02 Recommended Amend and Do Pass
2011-01-25 Senate
S Introduced and Referred to S02
2011-01-25 Senate
S Received for Introduction
2011-01-24 LSO
Bill Number Assigned

Official Summary Text

Bill No.: <billno> Drafter: <drafterinit>

Bill No.:
SF0135
Drafter:

MDO

LSO No.:
11LSO-0534
Effective Date:

7/1/2011

Enrolled Act No.:
SEA0032

Chapter No.:
40

Prime Sponsor:
Senator
Nicholas, P.

Catch Title:
University of Wyoming-federal mineral
royalties.

Subject:
Expenditures of the University of Wyoming's share of "under the cap" federal mineral royalties.

Summary/Major Elements:

This act allows the trustees
of the University of Wyoming to approve expenditures of the university's share
of federal mineral royalties distributed pursuant to W.S. 9-4-601(a)(iv)
without legislative approval;

If the University of Wyoming wants to expend federal mineral royalty funds on capital construction projects, they
may only do so for capital construction projects approved by the legislature;

Eliminates the requirement
that the university include expenditures of revenue distributed pursuant to
W.S. 9-4-601(a)(iv) in its budget submitted to the governor;

Eliminates the requirements
that the university submit vouchers with the state treasurer and filed with the
state auditor before payments from revenue distributed under W.S.
9-4-601(a)(iv) are authorized.

Comments:

Report required: Trustees of
the University of Wyoming shall report annually to the joint
appropriations interim committee, the select committee on capital finance
and investments and the governor on all expenditures of federal mineral
royalties under
W.S. 9-4-601(a)(iv).

Current Bill Text

Read the full stored bill text

WORKING DRAFT

ORIGINAL SENATE
FILE

NO.
0135

ENROLLED ACT NO. 32, SENATE

SIXTY-FIRST LEGISLATURE OF THE STATE OF
WYOMING
2011 GENERAL SESSION

AN ACT relating to
public funds
; amending requirements for the use of federal mineral royalties
distributed to
the University of Wyoming
;

providing for reports
; and providing for an effective date.

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

Section 1
.

W.S. 9
‑
4
‑
601(a)(iv) is amended to read:

9
‑
4
‑
601.

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

(a)

All monies received by the state of Wyoming from the secretary of the treasury of the United States under the provisions of the act of congress of February 25, 1920 (41 Stat. 437, 450; 30 U.S.C. §§ 181, 191), as amended, or from lessees or authorized mine operators and all monies received by the state from its sale of production from federal mineral leases subject to the act of congress of February 25, 1920 (41 Stat. 437, 450; 30 U.S.C. §§ 181, 191) as amended, except as provided by subsection (b) of this section, shall be deposited into an account and the first two hundred million dollars ($200,000,000.00) of revenues received in any fiscal year shall be distributed by the state treasurer as provided in this subsection. One percent (1%) of these revenues shall be credited to the general fund as an administrative fee, and the remainder shall be distributed as follows:

(iv)

Six and three-quarters percent (6 3/4%) to a separate account for the
University
of
Wyoming
. This revenue may be used only
when authorized by the legislature

for the actual and necessary expenses of constructing, equipping and furnishing new buildings, the repairing of existing buildings, the purchasing of improved or unimproved real estate, the payment of principal and interest on securities issued to finance
these

projects
authorized by the legislature

or for the payment of principal and interest on securities issued to refund the securities.
Any proposed expenditures from this revenue shall be included in the budget of the university submitted to the governor.

Payments from this revenue shall be made by the state treasurer only
upon properly itemized and receipted vouchers

for expenditures

approved by the trustees of the university
,
provided that expenditures for capital construction projects shall only be for projects authorized by the legislature
.

and filed with the state auditor as provided by law. Notwithstanding the requirement that proposed expenditures from this revenue be included in the university budget submitted to the governor,

T
he

trustees of the university are authorized to approve expenditures from this revenue for the payment of principal and interest on any outstanding securities issued pursuant to this paragraph in accordance with the terms of the securities
.
T
he trustees of the university sh
all report annually to the joint appropriations interim committee
, the select committee on capital finance and investments
and the governor on all expenditures under this
paragraph
;

Section 2
.

This act is effective July 1, 2011.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the Senate.

Chief Clerk