HB0215 • 2013

State investments for a public purpose.

AN ACT relating to state investments; decreasing amount allowed to be invested in industrial development bonds; repealing individual investment limitation; decreasing overall amount allowed to be invested for specific public purposes; providing rulemaking authority; and providing for an effective date.

Enacted

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

Sponsor: Representative Patton
Last action: 2013-03-04
Official status: enrolled
Effective date: 2/27/2013

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.

HB0215H2001

2nd reading • STUBSON

Failed

Plain English: Failed 2nd reading by STUBSON

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.

HB0215H3001

3rd reading • STUBSON

Failed

Plain English: Failed 3rd reading by STUBSON

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.

HB0215HS001

Standing Committee • H03

Adopted

Plain English: Adopted Standing Committee by H03

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.

HB0215S3001

3rd reading • MEIER

Adopted

Plain English: Adopted 3rd reading by MEIER

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.

HB0215S3002

3rd reading • ROTHFUSS

Adopted

Plain English: Adopted 3rd reading by ROTHFUSS

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.

HB0215S3003

3rd reading • BEBOUT

Withdrawn

Plain English: Withdrawn 3rd 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.

HB0215SS001

Standing Committee • PETERSON

Failed

Plain English: Failed Standing Committee by PETERSON

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

2013-03-04 LSO
Assigned Chapter Number
2013-02-27 Governor
Governor Signed HEA0079
2013-02-22 Senate
S President Signed HEA No. 0079
2013-02-21 House
H Speaker Signed HEA No. 0079
2013-02-21 LSO
Assigned Number HEA0079
2013-02-21 House
H Did Concur
2013-02-20 House
H Received for Concurrence
2013-02-20 Senate
S Passed 3rd Reading
2013-02-20 Senate
Amendment Adopted
2013-02-20 Senate
S Amendments Adopted
2013-02-20 Senate
Amendment Adopted
2013-02-19 Senate
S Laid Back Pursuant to SR 7-3
2013-02-15 Senate
S Laid Back Pursuant to SR 7-3
2013-02-14 Senate
S Passed 2nd Reading
2013-02-13 Senate
S Passed CoW
2013-02-13 Senate
Amendment Failed
2013-02-12 Senate
S Placed on General File
2013-02-12 Senate
S03 Recommended Amend and Do Pass
2013-02-05 Senate
S Introduced and Referred to S03
2013-02-05 Senate
S Received for Introduction
2013-02-04 House
H Passed 3rd Reading
2013-02-04 House
Amendment Failed
2013-02-01 House
H Passed 2nd Reading
2013-02-01 House
Amendment Failed
2013-01-31 House
H Passed CoW
2013-01-31 House
H Amendments Adopted
2013-01-31 House
Amendment Adopted
2013-01-30 House
H Placed on General File
2013-01-30 House
H03 Recommended Amend and Do Pass
2013-01-23 House
H Introduced and Referred to H03
2013-01-22 House
H Received for Introduction
2013-01-21 LSO
Bill Number Assigned

Official Summary Text

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

Bill No.:
HB0215
Drafter:

DKG

LSO No.:
13LSO-0550
Effective Date:

Immediate

Enrolled Act No.:
HEA0079

Chapter No.:
CH0095

Prime Sponsor:
Representative Patton

Catch Title:
State investments for a public purpose.

Subject:
Investment
of state funds for public purposes (usually economic development).

Summary/Major
Elements:

This Act lowers the amount of permanent funds which the
state treasurer may invest in industrial development bonds issued by joint
powers boards, counties or municipalities, from $600 million to $300 million.

The Act provides rulemaking authority to the state treasurer
in carrying out his duties in investing in those bonds.

The Act also lowers the overall amount of state funds
invested for a public purpose as authorized or directed by the legislature from
$1 billion to $600 million.

Comments:

Popular name
the public purpose investments have previously been known as legislatively
designated investments (LDIs).

Current Bill Text

Read the full stored bill text

WORKING DRAFT

ORIGINAL HOUSE
BILL

NO.
0215

ENROLLED ACT NO. 79, HOUSE OF REPRESENTATIVES

SIXTY-SECOND LEGISLATURE OF THE STATE OF WYOMING
2013 GENERAL SESSION

AN ACT relating to
state investments; decreasing amount allowed to be invested in industrial development bonds; decreasing overall amount allowed to be invested for specific public purposes;

providing rulemaking authority;
and providing for an effective date.

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

Section 1.

W.S. 9
‑
4
‑
715(m)(intro) and (n) is amended to read:

9
‑
4
‑
715.

Permissible investments.

(m)

To promote economic development, the state treasurer may invest and keep invested not to exceed
six hundred million dollars ($600,000,000.00)

three
hundred
million dollars ($
3
00
,000,000.00)
of any state permanent funds through the purchase of industrial development bonds issued by joint powers boards, municipalities or counties under W.S. 15
‑
1
‑
701 through 15
‑
1
‑
710 subject to the terms and conditions specified under this subsection.
The state treasurer may adopt rules as necessary to carry out his duties under this subsection.

By December 31 of each calendar year, the state treasurer and the Wyoming business council shall each provide a report to the joint minerals, business and economic development interim committee on the effectiveness of the investment program authorized by this subsection. The reports shall include the costs incurred by the state to the permanent mineral trust fund, expenditures made from the account created under paragraph (v) of this subsection and the revenue received by the Wyoming business council through fees and businesses who utilized the program:

(n)

The state treasurer shall not invest state funds for a specifi
c
public purpose authorized or directed by the legislature in excess of a total of
one billion dollars ($1,000,000,000.00)

six
hundred million dollars ($
6
0
0,000,000.00)
, excluding investments made pursuant to W.S. 37
‑
5
‑
406. Prior to the convening of each general session, the state treasurer shall, after consultation with the board, recommend any adjustments to this allocated amount to the select committee on capital financing and investments.

Section
2
.

This act is effective immediately upon completion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constitution.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the House.

Chief Clerk