KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to Wyoming

HB0253 • 2017

Economic development account funding.

AN ACT relating to economic development; providing an appropriation to the economic development account within the revolving investment fund created under article XVI, section 12 of the Wyoming constitution; requiring economic and fiscal analysis of projects; and providing for an effective date.

Budget Taxes
Enacted

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

Sponsor
Representative Harshman
Last action
2017-03-08
Official status
enrolled
Effective date
7/1/2017

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.

HB0253H2001

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.
HB0253H3001

3rd reading • Sommers

Adopted

Plain English: Adopted 3rd reading by Sommers

  • 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.
HB0253H3002

3rd reading • Gray

Withdrawn

Plain English: Withdrawn 3rd reading by Gray

  • 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.
HB0253HS001

Standing Committee • HMinerals

Adopted

Plain English: Adopted Standing Committee by HMinerals

  • 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.
HB0253S2001

2nd reading • Case

Adopted

Plain English: Adopted 2nd reading by Case

  • 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.
HB0253S2002

2nd reading • Case

Adopted

Plain English: Adopted 2nd reading by Case

  • 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.
HB0253S3001

3rd reading • Case

Adopted

Plain English: Adopted 3rd reading by Case

  • 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

  1. 2017-03-08 Governor

    Governor Signed HEA No. 0098

  2. 2017-03-08 LSO

    Assigned Chapter Number

  3. 2017-03-03 Senate

    S President Signed HEA No. 0098

  4. 2017-03-02 House

    H Speaker Signed HEA No. 0098

  5. 2017-03-01 LSO

    Assigned Number HEA No. 0098

  6. 2017-03-01 House

    H Concur:Passed 50-10-0-0-0

  7. 2017-03-01 House

    H Received for Concurrence

  8. 2017-02-28 Senate

    S 3rd Reading:Passed 24-6-0-0-0

  9. 2017-02-27 Senate

    S 2nd Reading:Passed

  10. 2017-02-24 Senate

    S COW:Passed

  11. 2017-02-23 Senate

    S Placed on General File

  12. 2017-02-23 Senate

    S02 - Appropriations:Recommend Do Pass 5-0-0-0-0

  13. 2017-02-22 Senate

    S COW:Rerefer to S02 - Appropriations

  14. 2017-02-13 Senate

    S Placed on General File

  15. 2017-02-13 Senate

    S09 - Minerals:Recommend Do Pass 5-0-0-0-0

  16. 2017-02-06 Senate

    S Introduced and Referred to S09 - Minerals

  17. 2017-02-03 Senate

    S Received for Introduction

  18. 2017-02-02 House

    H 3rd Reading:Passed 53-7-0-0-0

  19. 2017-02-01 House

    H 2nd Reading:Passed

  20. 2017-01-31 House

    H COW:Passed

  21. 2017-01-30 House

    H Placed on General File

  22. 2017-01-30 House

    H09 - Minerals:Recommend Amend and Do Pass 7-2-0-0-0

  23. 2017-01-27 House

    H Introduced and Referred to H09 - Minerals

  24. 2017-01-27 House

    H Received for Introduction

  25. 2017-01-26 LSO

    Bill Number Assigned

Official Summary Text

Bill Summary

Bill No.:
HB0253
Effective
:

July 1, 2017

LSO No.:
17LSO-0581

Enrolled Act No.:
HEA No. 0098

Chapter No.:
[Chapter Number_RO]

Prime Sponsor:
Harshman

Catch Title:
Economic development account funding.

Subject:
An appropriation for
loans to private and other entities for
economic

development projects.

Summary/Major Elements:

An amendment to the Wyoming Constitution created a revolving investment fund to provide fully-funded loan guarantees or loans to proposed or existing enterprises which will employ people within the state, provide services within the state, use resources within the state or o
therwise add economic value to goods, services or resources within the state.

Monies can be appropriated to the fund upon a two-thirds vote of the Legislature.

This bill appropriates twenty-five million dollars ($25,000,000.00) from the legislative stabilization
reserve
account
to an economic development account within the revolving investment
fund created under the Wyoming C
onstitution.

The bill requires a fiduciary analysis by the state treasurer of projects considered for funding with monies from this appropriation. The bill specifies the components of that analysis, including
determining if the project contributes more in tax revenue than it cost in public funds.

The analysis is required to be conducted by an entity qualified to provide the analysis using nationally accepted econometric modeling techniques. Funding for the analysis is to come from the monies appropriated by the bill.
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
.
HB0253

ENROLLED ACT NO. 98,

HOUSE OF REPRESENTATIVES

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

AN ACT relating to economic development; providing an appropriation to the economic development account within the revolving investment fund created under article XVI, section 12 of the Wyoming constitution; requiring economic and fiscal analysis of projects; and providing for an effective date.

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

Section 1
.

There is appropriated twenty
‑
five million dollars ($25,000,000.00) from the legislative
stabilization
reserve account to the economic development enterprise account
as defin
ed in W.S. 9
‑
12
‑
301(a)(iii)
within the revolving investment fund created under article XVI, section 12 of the Wyoming constitution. This appropriation shall not be included in the Wyoming Business Council's

201
9
‑
20
20
standard biennial budget request.

Section 2.

In conducting a fiduciary analysis on an economic development project considered for funding under section 1 of this act, the state treasurer shall perform an economic and fiscal analysis regarding consequential state and local impacts. The analysis shall identify any induced revenues and induced costs associated with a project under consideration for each year for the ten (10) years following completion of the project. A local cost analysis shall consider impacts on public education, public safety, fire protection, public utilities and the courts

and shall determine whether projects contribute more in tax revenue than they cost in public funds
. A
ny analysis required by this section shall be conducted by an entity qualified to provide the analysis using nationally accepted econometric modeling techniques. Any analysis required by this section shall be paid for using funds appropriated by this act.

Section

3
.

This
act is effective July 1,
201
7
.

(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