State funds-prohibit investment in Iran and Cuba.

2017
STATE OF WYOMING
17LSO-0460
Introduced
1.3

HOUSE BILL

NO.

HB0146

State funds-prohibit investment in Iran and Cuba.

Sponsored by:
Representative(s) Gray, Biteman, Edwards, Jennings and Lone and Senator(s) Meier

A BILL

for

AN ACT relating to public funds; prohibiting investment of state funds in Cuba or Iran; allowing exceptions; and providing for an effective date.

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

Section 1
.

W.S. 9
‑
4
‑
715(
a)(intro)
and
by creating new subsections (p) and (q) is amended to read:

9
‑
4
‑
715.

Permissible investments.

(a)

The state treasurer is the chief investment officer of the state of Wyoming. The state treasurer’s annual report shall include investment, income, individual and aggregate gains and losses by fund and the extent to
which the state investment policy is being implemented. Subject to requirements of
subsection
subsections
(c)
, (p) and (q)
of this section, state funds may be invested in any investment:

(p)

Funds of the state of Wyoming shall not be invested in a security of, or an entity doing business in or with Cuba or Iran. For the purposes of this subsection and subsection (q):

(i)

"Entity" means a company, corporation whether for profit or not for profit, limited liability company, partnership, limited partnership, limited liability partnership or any other business organization, association or body, real estate investment trust, commingled real estate investment fund and limited liability company, whether formed under the laws of this state or any other jurisdiction;

(ii)

"Security" means an investment instrument such as a note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit sharing agreement, collateral
trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting trust certificate, certificate of deposit for a security or, in general, any interest or instrument commonly known as a "security," or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing. The foregoing may be issued by corporations, government bodies or other entities that offer investor shares, interests, units or other measures of ownership in the entity or provide for a creditor relationship with the entity
.

(q)

The investment prohibition in subsection (p) of this section shall not apply to
i
nvestment in an entity that promotes journalistic or religious activities in Cuba or Iran.

Section 2
.

This act is effective July 1, 2017.

(END)

1
HB0146