SF0019 • 2016

Public funds investing.

AN ACT relating to public funds; authorizing investment of public funds as specified; authorizing a funds pool managed by the state treasurer as specified; and providing for an effective date.

Taxes

Enacted

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

Sponsor: Revenue
Last action: 2016-03-02
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.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

SF0019H2001

2nd reading • Madden

Adopted

Plain English: Adopted 2nd reading by Madden

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

2016-03-02 LSO
Assigned Chapter Number
2016-03-01 Governor
Governor Signed SEA No. 0014
2016-02-26 House
H Speaker Signed SEA No. 0014
2016-02-26 Senate
S President Signed SEA No. 0014
2016-02-25 LSO
Assigned Number SEA No. 0014
2016-02-25 Senate
S Concur:Passed 30-0-0-0-0
2016-02-25 Senate
S Received for Concurrence
2016-02-25 House
H 3rd Reading:Passed 59-0-1-0-0
2016-02-24 House
H 2nd Reading:Passed
2016-02-24 House
Amendment Adopted
2016-02-23 House
H COW:Passed
2016-02-22 House
H Placed on General File
2016-02-22 House
H03 - Revenue:Recommend Do Pass 9-0-0-0-0
2016-02-16 House
H Introduced and Referred to H03 - Revenue
2016-02-15 House
H Received for Introduction
2016-02-15 Senate
S 3rd Reading:Passed 30-0-0-0-0
2016-02-12 Senate
S 2nd Reading:Passed
2016-02-11 Senate
S COW:Passed
2016-02-11 Senate
S Placed on General File
2016-02-11 Senate
S03 - Revenue:Recommend Do Pass 4-0-1-0-0
2016-02-09 Senate
S Introduced and Referred to S03 - Revenue 30-0-0-0-0
2016-02-05 Senate
S Received for Introduction
2016-01-07 LSO
Bill Number Assigned

Official Summary Text

Summary for LSO115

Bill No.:
SF0019
Effective
:
7/1/2016

LSO No.:
16LSO-0035

Enrolled Act No.:
SEA No. 0014

Chapter No.:
12

Prime Sponsor:
Joint Revenue Interim Committee

Catch Title:
Public funds investing.

Subject:
Investment of pu
blic funds by local governments

Summary/Major Elements:

This bill
authorizes local governments to invest public funds in spe
cified
investments authorized by the State Loan and Investment Board or the L
egislature.

The bill also provides for the operation of a pooled fund by
the State Treasurer with longer-
term redemption options
and authorizes local governments to participate in that fund
.
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
ENGROSSED
File No
.
SF0019

ENROLLED ACT NO. 14,

SENATE

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

AN ACT relating to public funds; authorizing investment of public funds as specified; authorizing a funds pool managed by the state treasurer as specified; and providing for an effective date.

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

Section 1
.

W.S. 9
‑
3
‑
503(
a) and 9
‑
4
‑
831(a) by creating a new paragraph (xxvii) are amended to read:

9
‑
3
‑
503
.

Investment of deferred compensation; limitation on approved investment plans; enrolling and servicing fees; holding of funds; limited liability of state and political subdivision.

(a)

The board may approve investment of deferred compensation in insurance and annuity contracts or other investment plans upon competitive bidding. No investment plan shall be approved unless the plan is offered by
a provider
and is subject to rules and regulations of applicable federal and state regulatory agencies. The board may establish an account for the purpose of conducting the daily financial operations of the program and to avoid having to liquidate investments prior to maturity. The funds in this account shall be invested in, and be subject to the same terms and conditions as
,
the
pool
pools
for investments established under W.S. 9
‑
1
‑
416
, known commonly as "Wyo
‑
Star"

and 9
‑
4
‑
831(a)(xxvii)
.

9
‑
4
‑
831
.

Investment of public funds.

(a)

The state treasurer, or treasurer of any political subdivision, municipality or special district of this state, and the various boards of trustees and boards
of directors of county hospitals, airports, fairs and other duly constituted county boards and commissions, may invest in:

(
xxvii
)

Investments as provided in W.S. 9
‑
4
‑
715(a)
, (d) and (e)
. Upon request by any county, municipality, school district
, joint powers board
or any other local governmental entity the state treasurer may provide an investment fund for local government entities under the same terms and conditions as provided in W.S. 9
‑
1
‑
416. The fund shall
:

(A)

Be a second local investment pool with
more long
‑
term
redemption options than the local investment pool established under W.S. 9
‑
1
‑
416
and with additional penalties for early withdrawal of funds as provided by rule and regulation adopted by the state treasurer
;

(B)

Be subject to rules and regulations adopted by the state treasurer as provided in W.S. 9
‑
1
‑
416;

(C)

Be invested in a manner to obtain the highest return possible consistent with the preservation of the corpus; and

(D)

Except as otherwise provided in this paragraph,
be managed in accordance with W.S. 9
‑
1
‑
416.

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
Senate
.

Chief Clerk

1