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HB0004 • 2018

Investment of state funds-amendments.

AN ACT relating to public funds; clarifying conditions on the investment of permanent and pool A account funds in equities; and providing for an effective date.

Enacted

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

Sponsor
Capital Financing
Last action
2018-03-12
Official status
enrolled
Effective date
7/1/2018

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

  1. 2018-03-12 Governor

    Governor Signed HEA No. 0007

  2. 2018-03-12 LSO

    Assigned Chapter Number 28

  3. 2018-03-06 Senate

    S President Signed HEA No. 0007

  4. 2018-03-06 House

    H Speaker Signed HEA No. 0007

  5. 2018-03-05 LSO

    Assigned Number HEA No. 0007

  6. 2018-03-05 Senate

    S 3rd Reading:Passed 29-0-1-0-0

  7. 2018-03-02 Senate

    S 2nd Reading:Passed

  8. 2018-03-01 Senate

    S COW:Passed

  9. 2018-02-27 Senate

    S Placed on General File

  10. 2018-02-27 Senate

    S03 - Revenue:Recommend Do Pass 5-0-0-0-0

  11. 2018-02-22 Senate

    S Introduced and Referred to S03 - Revenue

  12. 2018-02-19 Senate

    S Received for Introduction

  13. 2018-02-19 House

    H 3rd Reading:Passed 52-8-0-0-0

  14. 2018-02-16 House

    H 2nd Reading:Passed

  15. 2018-02-15 House

    H COW:Passed

  16. 2018-02-14 House

    H Placed on General File

  17. 2018-02-14 House

    H02 - Appropriations:Recommend Do Pass 7-0-0-0-0

  18. 2018-02-13 House

    H Introduced and Referred to H02 - Appropriations 60-0-0-0-0

  19. 2018-02-09 House

    H Received for Introduction

  20. 2017-12-06 LSO

    Bill Number Assigned

Official Summary Text

Bill Summary

Bill No.:
HB0004
Effective
:
7/1/2018

LSO No.:
18LSO-0200

Enrolled Act No.:
HEA No. 0007

Chapter No.:
28

Prime Sponsor:
Select Committee on Capital Financing & Investments

Catch Title:
Investment of state funds-amendments.

Subject:
Clarifying conditions for state investments in equities.

Summary/Major Elements:

In the 2017
session
, the legislature passed two bills
related to the investment of state funds in equites,
House Bill 60 and 79 (2017 Wyo. Sess. Laws, Ch. 69 and 91). The
se

bills created
language in W.S. 9-4-715(b) and (p), which
provide
s

that permanent and Pool A funds may be invested in equities upon written authority as provided in
W.S. 9-4-715(
c) and (d).
However, subsections (c) and (d) do not provide for written authority for investments in equities.

This bil
l
clarif
ies
conditions for the investment of permanent and Pool
A
Account funds in equities by removing references to
"
written authority
"
t
hat may be interpre
ted as vague and clarifies the
State Treasurer, or his designee, may invest in equities pursu
ant to W.S. 9-4-715(c) and (d).

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
.
HB0004

ENROLLED ACT NO. 7,

HOUSE OF REPRESENTATIVES

SIXTY-FOURTH LEGISLATURE OF THE STATE OF WYOMING
2018 Budget Session

AN ACT relating to public funds; clarifying conditions on the investment of permanent and pool A account funds in equities; 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 (p)(intro)
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 up to seventy percent (70%) of the permanent funds in equities, including stocks of corporations

pursuant to subsections (c) and (d) of this section
. The state treasurer shall report at least annually to the select committee on capital financing and investments and the joint appropriations committee on the analysis conducted pursuant to paragraph (d)(ii) of this section and W.S. 9
‑
4
‑
716(b)(ix).

(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

pursuant to
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 seventy percent (70%) 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:

Section

2
.

This act is effective July 1, 201
8
.

(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