LSRA-limitations on appropriations.

2017
STATE OF WYOMING
17LSO-0265
Introduced
1.3

HOUSE BILL

NO.

HB0105

LSRA-limitations on appropriations.

Sponsored by:
Representative(s) Madden and Senator(s) Burns and Von Flatern

A BILL

for

AN ACT relating to public funds; specifying the maximum amount of funds allowed in the legislative stabilization reserve account; providing limitations on the appropriation or transfer of funds from the account; and providing for an effective date.

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

Section 1
.

W.S. 9
‑
4
‑
219 is amended to read:

9
‑
4
‑
219
.

Legislative stabilization reserve account created; purposes
; limitations
.

(a)

The legislative stabilization reserve account created by 2005 Wyoming Session Laws, Chapter 191, Section 4, Section 301(d) is continued and codified.
Funds within the account shall only be expended by legislative appropriation
The account shall consist of those
funds
appropriated or designated by law
and the
balance of the account
as of the end of a fiscal biennium
shall not exceed
the total of all general fund appropriations
authorized for expenditure
during the
same
fiscal biennium
. To the extent any deposit of funds to the account would exceed this
limitation,
excess funds shall be credited to the general fund
.
All funds

within the account shall be invested by the state treasurer and all investment earnings from the account shall be credited to the general fund.

(b)

F
unds
within
the account
shall only be
appropriated or transferred
for the following purposes
:

(i)

To resolve a general fund budget
shortfall
for the biennium in which the general fund
budget shortfall
occurs
, provided that the amount appropriated
from the account
shall not exceed
one
‑
half (1/2) of the resulting
difference of the total general fund appropriations
authorized for expenditure
during the
same
fiscal biennium

minus the most recent revised revenue
estimate

presented to the legislature
for the general fund and budget reserve account
for the
fiscal
biennium;

(ii)

For state financial emergen
cies as determined by the governor
and authorized by law to be expended subject to that determination
;
or

(iii)

To resolve a deficit of the school foundation program for the
fiscal
biennium in which the school foundation program deficit occurs.

(c)

Total appropriations or transfers of funds from the account in any
fiscal
biennium shall not exceed one
‑
quarter
(1/
4
) of the balance of the account as of June 30 of the immediately preceding fiscal biennium.

(d)

Not more than one
‑
half (1/2) of the forecasted general fund budget shortfall and school foundation program deficit shall be met by the funds in the account.
(
e
)

As used in this section:

(i)

"Balance of the account" means the unobligated, unencumbered fund balance of the account, including deduction for contingent appropriations as def
ined in W.S. 9
‑
2
‑
1002(a)(xviii);

(ii)

"Budget shortfall" means as defined in W.S. 9
‑
2
‑
1002(
a)(xvii).

Section

2
.

This
act is effective July 1,
201
7
.

(END)

1
HB0105