Interfund borrowing for school foundation account.

WORKING DRAFT
2012
STATE OF
WYOMING
12LSO-0204

HOUSE BILL
NO.
HB0073

Interfund borrow
ing
for school foundation account.

Sponsored by:

Representative(s) Steward

A BILL

for

AN ACT relating to
interfund borrowing;
eliminating interest applied to
interfund borrowing for the foundation program account;
and providing for an effective date.

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

Section 1.

W.S. 21
‑
13
‑
316
(a)
is amended to read:

21
‑
13
‑
316.

Interfund borrowing.

(a)

The state treasurer may

utilize interfund loans
from the common school account within the permanent land fund
to t
he foundation

program
account to enable statutory payments to be made when dedicated revenues are not yet received.
However,
A
ny interfund loans shall
bear interest at the rate of six percent (6%) per year payable from the foundation account to the common school account within the
permanent land income fund and shall
be repaid in whole or in part periodically as soon as foundation

program
account revenues permit
.

Section 2.

This act is effective July 1, 2012.

(END)

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HB0073