HB0020 • 2016

State public purpose investments-reporting.

AN ACT relating to state public purpose investments; amending reporting requirements for state public purpose investments; amending duties of the select committee on capital financing and investments; and providing for an effective date.

Enacted

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

Sponsor: Mgt Audit
Last action: 2016-03-04
Official status: enrolled
Effective date: 7/1/2016

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

2016-03-03 LSO
Assigned Chapter Number
2016-03-03 Governor
Governor Signed HEA No. 0010
2016-02-29 Senate
S President Signed HEA No. 0010
2016-02-26 House
H Speaker Signed HEA No. 0010
2016-02-26 LSO
Assigned Number HEA No. 0010
2016-02-26 Senate
S 3rd Reading:Passed 30-0-0-0-0
2016-02-25 Senate
S 2nd Reading:Passed
2016-02-24 Senate
S COW:Passed
2016-02-24 Senate
S Placed on General File
2016-02-24 Senate
S02 - Appropriations:Recommend Do Pass 5-0-0-0-0
2016-02-23 Senate
S Introduced and Referred to S02 - Appropriations
2016-02-23 Senate
S Received for Introduction
2016-02-22 House
H 3rd Reading:Passed 60-0-0-0-0
2016-02-22 House
H 2nd Reading:Passed
2016-02-19 House
H 2nd Reading:Laid Back
2016-02-18 House
H COW:Passed
2016-02-15 House
H Placed on General File
2016-02-15 House
H07 - Corporations:Recommend Amend and Do Pass 8-0-0-1-0
2016-02-09 House
H Introduced and Referred to H07 - Corporations 59-0-1-0-0
2016-02-05 House
H Received for Introduction
2016-01-15 LSO
Bill Number Assigned

Official Summary Text

Summary for LSO115

Bill No.:
HB0020
Effective
:
7/1/2016

LSO No.:
16LSO-0120

Enrolled Act No.:
HEA No. 0010

Chapter No.:
26

Prime Sponsor:
Management Audit Committee

Catch Title:
State public purpose investments-reporting.

Subject:
Requires a comp
rehensive report to the Select Committee on Capital Financing and Investments on s
tate public purpose investments

Summary/Major Elements:
Under current law, the State Treasurer, in consultation with the State Loan and Investment Board, makes biennial recommendations to the Select Committee on Capital Financing and Investments on the total amount of state permanent and non-permanent funds that may be invested for a specific public purpose.
T
his
a
ct expands the State Treasurer’
s reporting requirement to include comprehensive information on state funds invested for public purposes
in addition to recommendations on the total amount
of
funds that may be invested for a specific public purpose.

The expanded reporting requirement
includes how frequently investment programs are used, amounts loaned, which investments have delinquent or defaulted accounts, recommendation
s
for legislative revisions to programs, estimates of potential opportunity costs and a summary of administrative costs. The

a
ct requires the
annual report
to
be compiled in consultation with the State Loan and Investment Board, the Wyoming Water Development Office, the Wyoming Business Council and the Office of State Lands and Investments and is due by November 1 of each
year.
This
a
ct also amends the duties of the Select Committee on Capital Financing and Investments to include monitoring state funds invested for a specific public purpose authorized or directed by the legislature.
Comments:
By November 1 of each year, the
T
reas
urer, in consultation with the B
oard,
the Water Development O
ffice, the
B
usiness
Council and the Office of State Lands and I
nvestments
,
must report to the Select Committee on C
apital
Financing and I
nvestments on all state funds invested for a specific public purpose authorized or directed by the
L
egislature.
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
House
Bill No
.
HB0020

ENROLLED ACT NO. 10,

HOUSE OF REPRESENTATIVES

SIXTY-
THIRD
LEGISLATURE OF THE
STATE OF WYOMING
2016 Budget Session

AN ACT relating to state public purpose investments; amending reporting requirements for state public purpose investments; amending duties of the select committee on capital financing and investments; and providing for an effective date.

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

Section 1
.

W.S. 9
‑
4
‑
715(
n)
and

28
‑
11
‑
201(b) by creating
a new
paragraph (vi)
are
amended to read:

9
‑
4
‑
715
.

Permissible investments.

(n)

The state treasurer shall not invest state funds for a specific public purpose authorized or directed by the legislature in excess of a total of six hundred million dollars ($600,000,000.00), 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
.
B
y
November 1
of each calendar year, the state treasurer
,
in consultation
with the
board, the
Wyoming water development office, the Wyoming business council and the
office of state lands and investments
,

shall provide a report to the select committee on capital financing and investments
on all state funds invested for a specific public purpose authorized or directed by the legislature
.
The report shall include:

(
i
)

A list of all investment or loan requests made in the previous year, the amount loaned or invested
a
nd
t
he status of all investments and loans
, including
those
which are delinquent as to the payment of any installment of principal or interest due;

(ii
)

R
ecommendations for future legislation
,
including
recommendations for
adjustments to the

amount
allocated
by
this
subsection

and
recommendations for adjustments to the
amounts allocated under applicable
state law
for
individual invest
ments authorized
or directed by the legislature
for a specific public purpose
; and

(
iii
)

The cost of the investment to the people of Wyoming in terms of:

(A)

Forgone
earnings
that could have been obtained if the funds had been invested by the state treasurer with the permanent funds of the state;

(B)

Administrative and other costs associated with each investment
.

28
‑
11
‑
201
.

Appointment of members; powers and duties.

(b)

The select committee shall:

(v
i)

Monitor

state funds
invested
for a specific public purpose
authorized or directed by the legislature.

Section
2
.

This
act is effective July 1,
201
6
.

(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

1