HB0254 • 2017

Public purpose investments.

AN ACT relating to state investments; increasing total amount authorized to be invested for specific public purposes; and providing for an effective date.

Enacted

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

Sponsor: Representative Harshman
Last action: 2017-03-06
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.

Bill History

2017-03-06 Governor
Governor Signed HEA No. 0050
2017-03-06 LSO
Assigned Chapter Number
2017-02-23 Senate
S President Signed HEA No. 0050
2017-02-22 House
H Speaker Signed HEA No. 0050
2017-02-22 LSO
Assigned Number HEA No. 0050
2017-02-21 Senate
S 3rd Reading:Passed 26-1-2-0-1
2017-02-16 Senate
S 2nd Reading:Passed
2017-02-15 Senate
S COW:Passed
2017-02-13 Senate
S Placed on General File
2017-02-13 Senate
S09 - Minerals:Recommend Do Pass 5-0-0-0-0
2017-02-07 Senate
S Introduced and Referred to S09 - Minerals
2017-02-06 Senate
S Received for Introduction
2017-02-06 House
H 3rd Reading:Passed 46-12-2-0-0
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
H09 - Minerals:Recommend Do Pass 7-1-1-0-0
2017-01-27 House
H Introduced and Referred to H09 - Minerals
2017-01-27 House
H Received for Introduction
2017-01-26 LSO
Bill Number Assigned

Official Summary Text

Bill Summary

Bill No.:
HB0254
Effective
:
July 1, 2017

LSO No.:
17LSO-0667

Enrolled Act No.:
HEA No. 0050

Chapter No.:
[Chapter Number_RO]

Prime Sponsor:
Harshman

Catch Title:
Public purpose investments.

Subject:
The amount of state funds which may be invested in public purpose investments.

Summary/Major Elements:

The Legislature designates by law permissible investments for state funds.

In those designations, the Legislature has identified particular projects or programs for investment that are not necessarily intended to be solely for the highest direct return possible, but which might have other public purposes.

Previously those other investments were separately listed in law and labeled "legislatively designated investments" or LDIs.

More recently the law was amended to speak more generically
of "public purpose investments
.
”

This bill increases the overall cap for investment of state funds
which may be invested
in these
"
public purpose investments
"

(
authorized or directed by law
)
from $600 million to $1 billion.
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
Bill No
.
HB0254

ENROLLED ACT NO. 50,

HOUSE OF REPRESENTATIVES

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

AN ACT relating to state investments; increasing total amount authorized to be invested for specific public purposes; and providing for an effective date.

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

Section
1
.

W.S. 9
‑
4
‑
715(
n)(intro) is amended to read:

9
‑
4
‑
715
.

Permissible investments.

(n)

The state treasurer shall not invest state funds for a specific public purpose authorized or directed by the legislature in excess of a total of
six hundred million dollars ($600,000,000.00)
one billion dollars ($1,000,000,000.00)
, excluding investments made pursuant to W.S. 37
‑
5
‑
406. By November 1 of each calendar year, the state treasurer, in consultation with the board, the Wyoming water development office, the Wyoming business council and the office of state lands and investments, shall provide a rep
ort to the select committee on capital financing and investments on all state funds invested for a specific public purpose authorized or directed by the legislature. The report shall include:

Section 2
.

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