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SJ0002 • 2015

Investment of state funds.

A JOINT RESOLUTION proposing to amend the Wyoming Constitution to authorize the investment of state funds not designated as permanent funds of the state in equities upon a two-thirds vote of both houses of the legislature.

Budget Elections Labor
Enacted

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

Sponsor
Appropriations
Last action
2015-03-12
Official status
enrolled
Effective date
3/9/2015

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.

SJ0002H3001

3rd reading • Stubson

Adopted

Plain English: Adopted 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.
SJ0002HS001

Standing Committee • HAC

Adopted

Plain English: Adopted Standing Committee by HAC

  • 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.
SJ0002S2001

2nd reading • Nicholas, P.

Adopted

Plain English: Adopted 2nd reading 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.
SJ0002S2002

2nd reading • Nicholas, P.

Adopted

Plain English: Adopted 2nd reading 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.
SJ0002JC001

Conference Committee

S Adopted, H Adopted

Plain English: S Adopted, H Adopted Conference Committee

  • 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

  1. 2015-03-12 LSO

    Assigned Chapter Number

  2. 2015-03-12 Governor

    Governor Signed SEJR No. 0001

  3. 2015-03-05 House

    H Speaker Signed SEJR No. 0001

  4. 2015-03-05 Senate

    S President Signed SEJR No. 0001

  5. 2015-03-05 LSO

    Assigned Number SEJR No. 0001

  6. 2015-03-04 House

    H Adopted SJ0002JC001: 50-9-1-0-0

  7. 2015-03-04 Senate

    S Adopted SJ0002JC001: 28-1-1-0-0

  8. 2015-03-04 House

    H Appointed JCC01 Members

  9. 2015-02-24 House

    H Appointed JCC01 Members

  10. 2015-02-24 Senate

    S Appointed JCC01 Members

  11. 2015-02-24 Senate

    S Appointed JCC01 Members

  12. 2015-02-23 Senate

    S Concur:Failed 0-23-7-0-0

  13. 2015-02-20 Senate

    S Received for Concurrence

  14. 2015-02-20 House

    H 3rd Reading:Passed 48-11-1-0-0

  15. 2015-02-20 House

    Amendment Adopted

  16. 2015-02-19 House

    H 2nd Reading:Passed

  17. 2015-02-18 House

    H COW:Passed

  18. 2015-02-18 House

    Amendment Adopted

  19. 2015-02-11 House

    H Placed on General File

  20. 2015-02-11 House

    Appropriations:Recommend Amend and Do Pass 7-0-0-0-0

  21. 2015-02-06 House

    H Introduced and Referred to H02 - Appropriations

  22. 2015-01-29 House

    H Received for Introduction

  23. 2015-01-27 Senate

    S 3rd Reading:Passed 27-3-0-0-0

  24. 2015-01-26 Senate

    S 2nd Reading:Passed

  25. 2015-01-26 Senate

    Amendment Adopted

  26. 2015-01-23 Senate

    S 2nd Reading:Laid Back

  27. 2015-01-23 Senate

    Amendment Adopted

  28. 2015-01-22 Senate

    S 2nd Reading:Laid Back

  29. 2015-01-21 Senate

    S 2nd Reading:Laid Back

  30. 2015-01-20 Senate

    S 2nd Reading:Laid Back

  31. 2015-01-19 Senate

    S COW:Passed

  32. 2015-01-19 Senate

    S Placed on General File

  33. 2015-01-19 Senate

    Appropriations:Recommend Do Pass 4-0-1-0-0

  34. 2015-01-14 Senate

    S Introduced and Referred to S02 - Appropriations

  35. 2015-01-13 Senate

    S Received for Introduction

  36. 2015-01-12 LSO

    Bill Number Assigned

Official Summary Text

Summary for LSO115
Bill No.:
SJ0002
Effective
:
3/9/2015

LSO No.:
15LSO-0090

Enrolled Act No.:
SEJR 1

Chapter No.:
N/A

Prime Sponsor:
Joint Appropriations Interim Committee

Catch Title:
Investment of state funds.

Subject:
Constitutional Amendment to Allow Investment of Non
-
permanent State Funds in Stocks.

Summary/Major Elements:

Article 16, Section 6 of the Wyoming Constitution restricts the investment of
S
tate funds in stocks and other equities to only permanent funds of the
S
tate and f
unds of
the
public employee retirement systems
.

This Act authorizes a constitutional amendment to amend Article 16, Section 6 to allow investment of non
-
permanent funds of the State in stocks upon a
2/3 vote of both houses of the L
egislature.

The
L
egislature may designate different investment conditions on each fund authorized to be invested in stocks.

This constitutional amendment will be placed on the ballot for the 2016 general election.

Comments:



This
constitutional amendment will only become effective upon receiving a majority vote of all electors voting during the 201
6
general election.

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 
WORKING DRAFT

ORIGINAL
Senate
JOINT RESOLUTION
NO
.
SJ0002

ENROLLED JOINT RESOLUTION NO. 1,

SENATE

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

A JOINT RESOLUTION proposing to amend the Wyoming Constitution to authorize the investment of state funds not designated as permanent funds of the state in equities upon a two-thirds vote of both houses of the legislature.

BE
IT RESOLVED BY THE LEGISLATURE OF THE STATE OF WYOMING,
two
‑
thirds of all the members of the two houses, voting separately, concurring therein:

Section 1
.

The following proposal to amend
the
Wyoming Constitution by amending
Article
16
, Section
6
is proposed for submission to the electors of the State of Wyoming at the next general election for approval or rejection to become valid as a part of the Constitution if ratified by a majority of the electors at the election:

Article 16, Section 6.
Loan of credit; donations prohibited; works of internal improvement.

(a)

Neither the state nor any county, city, township, town, school district, or any other political subdivision,
shall
:

(
i
)

L
oan or give its credit or make donations to or in aid of any individual, association or corporation, except for necessary support of the poor
;
,
nor

or

(ii)

S
ubscribe to or become the owner of the capital stock of any association or corporation, except that
:

(A)

F
unds of public employee retirement systems and the permanent funds of the state of Wyoming may be invested in such stock under conditions the legislature prescribes
;
.

(B)

The legislature may
provide by law for
the investment of funds not designated as permanent funds of the state in the capital stock of any association or corporation and may designate which of these funds may be invested. The legislature may prescribe different investment conditions for each fund. Any legislation establishing or increasing the percentage of any fund that may be invested under this subparagraph shall be passed only by a two
‑
thirds (2/3) vote of all the members of each of the two (2) houses voting separately.

(b)

The state shall not engage in any work of internal improvement unless authorized by a two
‑
thirds (2/3) vote of the people.

Section 2
.

That the Secretary of State shall endorse the following statement on the proposed amendment:

Currently, the Wyoming Constitution allows the legislature to authorize the investment of
public employee retirement systems
funds
and
permanent state funds in equities, such as stock
or shares in private or public companies.
Permanent funds of the state include funds
designated as permanent funds by the Constitution
.

The Wyoming Constitution does not allow the state to invest
any other funds

in equities.

The adoption of this amendment would allow the legislature, by two
‑
thirds vote of the members of both houses, to authori
ze the investment of
additional
specified state funds
in equities.

(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