SF0058 Wyoming education trust fund-investment earnings.

Plain English Breakdown

The bill summary does not provide details on the amount of funding available or how it will be distributed among school districts.

Wyoming Education Trust Fund Investment Earnings Act

The bill amends the distribution of investment earnings from the Wyoming education trust fund to be credited to a specific account for school funding starting July 1, 2020.

What This Bill Does

Changes when and how investment earnings from the Wyoming education trust fund are distributed.

Requires that starting July 1, 2020, all investment earnings go to a separate account for school funding.

Who It Names or Affects

School districts in Wyoming

The state treasurer who manages the trust fund

Terms To Know

Corpus

The original amount of money put into a trust fund, which is not to be spent.

Limits and Unknowns

The bill did not pass in the current session and is marked as inactive.

Details on how much funding will be available are not provided.

Bill History

2020-03-11 House

H:Died in Committee Returned Bill Pursuant to HR 5-4

2020-02-24 House

H Introduced and Referred to H02 - Appropriations

2020-02-18 House

H Received for Introduction

2020-02-18 Senate

S 3rd Reading:Passed 30-0-0-0-0

2020-02-17 Senate

S 2nd Reading:Passed

2020-02-14 Senate

S COW:Passed

2020-02-12 Senate

S Placed on General File

2020-02-12 Senate

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

2020-02-11 Senate

S Introduced and Referred to S02 - Appropriations 29-0-1-0-0

2020-02-10 Senate

S Received for Introduction

2020-01-24 LSO

Bill Number Assigned

Current Bill Text

Read the full stored bill text

20LSO-0418
2020
STATE OF WYOMING
20LSO-0418
Numbered
2.0

SENATE FILE NO. SF0058

Wyoming education trust fund-investment earnings.

Sponsored by: Joint Appropriations Committee

A BILL

for

AN ACT relating to the Wyoming education trust fund; amending the distribution of investment earnings from the Wyoming education trust fund; conforming provisions; and providing for an effective date.

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

Section 1.

W.S. 21
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22
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101(b) and 21
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22
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107(b) and (d) are amended to read:

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101.

Trust fund established; corpus inviolate; investment by state treasurer.

(b)

Funds deposited into the Wyoming education trust fund established pursuant to subsection (a) of this section are intended to be inviolate and constitute a permanent or perpetual trust fund which shall be invested by the state treasurer as authorized under W.S. 9
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4
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715(a), (d) and (e) and in a manner to obtain the highest return possible consistent with preservation of the corpus. Any
interest earned
investment earnings
from investment of the corpus of the trust fund shall be credited by the state treasurer into a separate account
until June 30, 2020
and distributed in accordance with W.S. 21
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22
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102.
Beginning July 1, 2020, any investment earnings from investment of the corpus of the trust fund shall be credited by the state treasurer to the school foundation program account.

21
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22
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107.

Innovative program grants; application; selection by the state department of education; classification of districts; distribution; report on grants awarded; initial grants.

(b)

Subject to available funding, e
ach school district, either separately or in conjunction with another
school district, shall be given the opportunity to submit a proposal for innovative program grants authorized under W.S. 21
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22
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106 at least once every five (5) years.

(d)

Subject to available funding, t
he state department shall award a grant authorized under this section to at least one (1) district from each classification pursuant to subsection (c) of this section. Nothing in this subsection shall prohibit the state department from awarding grants to more than one (1) district under each classification or more than one (1) grant to the same school district under criteria established under W.S. 21
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22
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106.

Section 2
.

This act is effective July 1, 2020
.

(END)

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SF0058