Permanent mineral trust fund protection.

WORKING DRAFT
2014
STATE OF
WYOMING
14LSO-0389

SENATE FILE
NO.
SF010
4

Permanent mineral trust fund protection.

Sponsored by:
Senator(s) Meier, Case, Dockstader and Peterson

A BILL

for

AN ACT relating to public funds; providing for transfer of funds to offset realized capital losses in the permanent Wyoming mineral trust fund; requiring a report; and providing for an effective date.

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

Section 1.

W.S. 9
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4
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719(b) is amended to read:

9
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4
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719.

Investment earnings spending policy - permanent funds.

(b)

There is created the permanent Wyoming mineral trust fund reserve account. As soon as possible after the end of each of the fiscal years beginning on and after July 1, 2000, revenues in this account in excess of seventy-five percent (75%) of the spending policy amount in subsection
(d) of this section shall be credited to the permanent Wyoming mineral trust fund.
Notwithstanding any other provision of this section, the state treasurer may transfer an amount necessary to offset any realized capital losses in the permanent Wyoming mineral trust fund occurring within the fiscal year beginning July 1 and ending June 30 immediately preceding the transfer. The transfer shall be from the permanent Wyoming mineral trust fund reserve account to the permanent Wyoming mineral trust fund,
not to exceed fifty percent (50%) of the
funds available within the reserve account
after implementation of the spending policy under subsection (d) of this section
. Not later than thirty (30) days after a transfer to offset a realized capital loss under this subsection, the state treasurer shall report the transfer to the joint appropriations interim committee.

Section 2.

This act is effective July 1, 2014.

(END)

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SF010
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