HB0079 • 2017

State funds equity investments pool.

AN ACT relating to public funds; creating the pool A investment account; specifying the maximum percentage of the pool which may be invested in equities including stocks of corporations; specifying state funds which are to be included in the pool; providing conforming amendments for the investment of permanent funds of the state; and providing for an effective date.

Budget Elections

Enacted

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

Sponsor: Appropriations
Last action: 2017-03-06
Official status: enrolled
Effective date: 3/2/2017

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.

HB0079HS001

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.

HB0079S3001

3rd reading • Meier

Corrected, Failed

Plain English: Corrected, Failed 3rd reading by Meier

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.

HB0079SS001

Standing Committee • SAppropriations

Adopted

Plain English: Adopted Standing Committee by SAppropriations

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

2017-03-06 Governor
Governor Signed HEA No. 0057
2017-03-06 LSO
Assigned Chapter Number
2017-02-27 Senate
S President Signed HEA No. 0057
2017-02-24 House
H Speaker Signed HEA No. 0057
2017-02-23 LSO
Assigned Number HEA No. 0057
2017-02-22 House
H Concur:Passed 48-12-0-0-0
2017-02-21 House
H Received for Concurrence
2017-02-16 Senate
S 3rd Reading:Passed 26-2-2-0-0
2017-02-15 Senate
S 2nd Reading:Passed
2017-02-14 Senate
S COW:Passed
2017-02-09 Senate
S Placed on General File
2017-02-09 Senate
S02 - Appropriations:Recommend Amend and Do Pass 5-0-0-0-0
2017-02-07 Senate
S Introduced and Referred to S02 - Appropriations
2017-02-07 Senate
S Received for Introduction
2017-02-06 House
H 3rd Reading:Passed 52-6-2-0-0
2017-02-03 House
H 2nd Reading:Passed
2017-02-02 House
H COW:Passed
2017-02-01 House
H Placed on General File
2017-02-01 House
H02 - Appropriations:Recommend Amend and Do Pass 7-0-0-0-0
2017-01-11 House
H Introduced and Referred to H02 - Appropriations
2017-01-09 House
H Received for Introduction
2017-01-04 LSO
Bill Number Assigned

Official Summary Text

Bill Summary
Bill No.:
HB0079
Effective
:
Immediately

LSO No.:
17LSO-0413

Enrolled Act No.:
HEA No. 0057

Chapter No.:
[Chapter Number_RO]

Prime Sponsor:
Joint Appropriations Committee

Catch Title:
State funds equity investments pool.

Subject:
A
uthorizes
investments of
nonpermanent funds of the state in equities
and increases limits on permanent funds invested in equities
.

Summary/Major Elements:

The voters of the s
tate of Wyoming adopted a constitutional amendment to Article 16, Section 6 of the State of Wyoming Constitution to allow investmen
t of nonpermanent funds of the s
tate of Wyoming in common stock and other equities, if the Legislature authorizes the investment by a two-thirds vote of the members elected to both houses, voting separately.

This a
ct create
s
the “Po
ol A Investment Account.” This a
ct allows the State Treasurer to invest up to 70% of the following funds in equities including stocks of corporations
:

The Wyoming tobacco settlement trust fund;
The Wyoming wildlife and natural resource trust account;
The Wyoming cultural trust fund;
The Wyoming public television matching fund account;
The trust account within the Wyoming game and fish fund created by W.S. 23-1-501(f).

The a
ct requires the State Loan and Investment Board, in consultation with the agencies administering the accounts to annually review the state investment policies for the Pool A Investment Account.

The act i
ncreases the percentage
of the permanent funds of the s
tate of Wyoming which may be invested in equities from 55% to 70%.

Comments:
Creates/
amends a major program
: Investment of State of Wyoming funds in
e
quities.
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
ENGROSSED
Bill No
.
HB0079

ENROLLED ACT NO. 57,

HOUSE OF REPRESENTATIVES

SIXTY-FOURTH LEGISLATURE OF THE STATE OF WYOMING
2017 General Session

AN ACT relating to public funds; creating the pool A investment account; specifying the maximum percentage of the pool which may be invested in equities including stocks of corporations; specifying state funds which are to be included in the pool; providing conforming amendments for the investment of permanent funds of the state; and providing for an effective date.

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

Section 1
.

W.S. 9
‑
4
‑
715
(b) and
by creating a subsection (p)
is
amended to read:

9
‑
4
‑
715
.

Permissible investments.

(b)

The state treasurer, or his designee, which shall be registered under the Investment Advisor's Act of 1940 as amended if required to be registered by the terms of that act as amended, upon written authority
as provided in subsections (c) and (d) of this section
, may invest
monies

up to seventy percent (70%)

of the permanent funds in
securities
but not more than fifty
‑
five percent (55%) shall be invested in common
equities, including

stocks

of corporations
.

(p)

There is created the
pool A investment account
. The state treasurer,
or his designee, which shall be registered under the Investment Advisor's Act of 1940 as amended if required to be registered by the terms of that act as amended, upon written authority
as provided in subsections (c) and (d) of this
section
and after consultation with the state agency or agencies receiving or administering investment earnings from the monies invested in the pool A investment account
,

may invest
up to s
eventy
percent (
7
0%) of the
monies
comprising the pool
A
investment account

in
equities
including
stocks
of corporations
.
The state loan and investment board,
in
consultation
with
the state agency or agencies receiving or administering investment earnings from the monies invested in the
pool A investment account
, shall annually review the state investment policy statements for the investment pool
created by this subsection as
required under W.S. 9
‑
4
‑
716.
Monies in the following funds shall be invested in the
pool A investment account
:

(i)

The
Wyoming
tobacco
settlement
trust fund created by
W.S. 9
‑
4
‑
1203(a)
;

(ii)

The
Wyoming wildlife and natural resource trust account created by W.S. 9
‑
15
‑
103(a)
;

(iii)

The Wyoming cultural trust fund established by W.S. 9
‑
2
‑
2304(a);

(i
v
)

The Wyoming public television
matching fund account
created by W.S. 21
‑
23
‑
20
2(a);

(v)

The
trust
account within the Wyoming game and fish fund created by W.S. 23
‑
1
‑
501(f).

Section 2.
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
House
.

Chief Clerk

1