SF0059 Wyoming public television endowment accounts.

Official Summary Text

Summary for LSO115
Bill No.:
SF0059
Effective
:
3/2/2015

LSO No.:
15LSO-0173

Enrolled Act No.:
SEA 27

Chapter No.:
67

Prime Sponsor:
Joint Appropriations Interim Committee

Catch Title:
Wyoming public television endowment accounts.

Subject:
Codifying the Wyoming Public Television Endowment and Matching Funds Accounts.

Summary/Major Elements:

This bill
codifies
the Wyoming Public Television Endowment Account and the Wyoming Public Television Matching Funds Account
previously created by Wyoming Session Laws.

This bill provides t
he State Treasurer shall administer both of the accounts
. F
unds in the endowment account may be invested in the same manner as other nonpermanent funds of the
S
tate. Funds in the matching account shall remain inviolate
and the investment earnings shall
be distributed to the Wyoming Community College District Board for operations and programming of Wyoming Public Television.

This bill instructs the State Treasurer to transfer funds, in increments of $10,000, from the endowment account to the matching funds account to match cash gifts received by Wyoming Public Television.

This bill transfers funds previously appropriated in Wyoming Session Laws to the Wyoming Public Television Endowment Account and the Wyoming Public Television Matching Funds Account.
The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.

Current Bill Text

Read the full stored bill text

ORIGINAL
Senate
File No
.
SF0059

ENROLLED ACT NO.
27
,

SENATE

SIXTY-THIRD LEGISLATURE OF THE STATE OF WYOMING
2015 General Session

AN ACT relating to Wyoming public television; creating the Wyoming public television endowment account; creating the Wyoming public television matching funds account; depositing prior appropriations into the account; and providing for an effective date.

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

Section
1
.

W.S. 21
‑
23
‑
201 and 21
‑
23
‑
202 are created to read:

ARTICLE 2
WYOMING PUBLIC TELEVISION ENDOWMENT ACCOUNT

21
‑
23
‑
201
.

Wyoming public television accounts.

(a)

The Wyoming
public television endowment
account is created.

(b)

The state treasurer shall invest amounts deposited within the Wyoming
public television endowment
account in accordance with law.

All investment earnings shall be credited to the genera
l fund. Notwithstanding W.S. 9
‑
2
‑
1008, 9
‑
2
‑
1012(
e)
and
9
‑
4
‑
207, other funds within the account shall not lapse or revert until and unless directed by the legislature and shall remain available for distribution as provided in this article.

21
‑
23
‑
202
.

Wyoming
public television
matching program; state treasurer to administer program account
s
; matching payments; conditions; reversion of appropriations.

(a)

The Wyoming public television matching funds account is created.

(
b
)

The state treasurer shall administer the Wyoming
public television endowment account
and Wyoming
public television
matching funds account established under this article. The following shall apply:

(
i
)

Funds from the Wyoming
public television endowment
account shall be transferred by the state treasurer to
the
Wyoming
public television
matching funds account to equally match each cash gift received by Wyoming
public television
and deposited to the matching funds account. A match shall be paid by the state treasurer from the Wyoming
public television endowment
account at the time any accumulated amounts actually deposited to the matching funds account total ten thousand dollars ($10,000.00) or more;

(ii)

The state treasurer shall make transfers to the Wyoming
public television
matching funds account not later than the end of the calendar quarter following the quarter during which
deposits
to the matching funds account total at least ten thousand dollars ($10,000.00). If gifts are made through a series of payments or transfers, no matching funds shall be transferred under this
section
until the total value of all payments or transfers actually received totals at least ten thousand dollars ($10,000.00);

(iii)

Funds in the matching funds account shall remain inviolate and only the investment earnings from investments of the monies in the matching funds account may be distributed. The state treasurer shall distribute income from the matching
funds
account to the community college commission
quarterly
. The community college commission shall distribute these funds together with other appropriated funds to the central Wyoming community college district board for the operations and programming of Wyoming public televisio
n pursuant to W.S. 21
‑
18
‑
105(
b).

Section 2
.

Monies appropriated to the Wyoming public television endowment account by 2008
Wyoming Session Laws, Chapter 48
, Section 2, Section 057, footnote 1, and
reappropriated
in 2011 Wyoming Session Laws, Chapt
er 88, Section 2, Section 057, f
ootnote 3, not otherwise obligated or encumbered, shall be deposited in the Wyoming public television endowment account created by this act. The fund balance within the Wyoming public television matching funds account originally created under 2008 Wyoming Session
L
aws, Chapte
r 48
, Section 2, Section
057,
footnote 1 shall be transferred to the Wyoming public television matching funds account created by this act.

Section
3
.

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
Senate
.

Chief Clerk

1

Wyoming public television endowment accounts.

Plain English Breakdown

Bill History

Official Summary Text

Current Bill Text