SF0098 • 2020

PWMTF reserve account.

AN ACT relating to public funds; amending the threshold for determining the amount of funds in the permanent Wyoming mineral trust fund reserve account annually transferred to the permanent Wyoming mineral trust fund; and providing for an effective date.

Land

Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor: Cap Fin & Inv
Last action: 2020-03-12
Official status: inactive
Effective date: 3/1/2020

Plain English Breakdown

The bill did not pass and was postponed indefinitely on March 12, 2020. Therefore, it does not have a set effective date or specific requirements for transferring funds over 100% of the spending limit.

Changes to the Wyoming Mineral Trust Fund Reserve Account

The bill changes how much money can stay in the reserve account of the Wyoming mineral trust fund before it must be transferred to the main fund.

What This Bill Does

Adjusts the threshold for determining when excess funds should move from the reserve account to the permanent Wyoming mineral trust fund.

Who It Names or Affects

The state treasurer who manages the transfer of funds.

Terms To Know

Permanent Wyoming Mineral Trust Fund: A financial account in Wyoming used to manage money earned from minerals, which is meant to last for a long time and be used carefully.
Reserve Account: A special part of the trust fund where extra funds are kept until they need to be moved or spent according to specific rules.

Limits and Unknowns

The bill did not pass and was postponed indefinitely on March 12, 2020.
It is unclear how this change would affect the overall management of Wyoming's mineral trust fund resources.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

SF0098HS001

Standing Committee • House Appropriations Committee

Adopted

Plain English: The amendment passes the substitute version of bill SF0098 without making specific changes to its content.

The amendment does not include any new or modified provisions; it simply approves the substitute version of the original bill.

Since the official text only indicates approval of a substitute bill and does not provide details about what that substitute contains, specifics about changes to the reserve account threshold are unknown.

Bill History

2020-03-12 Senate
S postponed indefinitely
2020-03-12 Senate
S Received for Concurrence
2020-03-06 House
H 3rd Reading:Passed 49-9-2-0-0
2020-03-05 House
H 2nd Reading:Passed
2020-03-04 House
H COW:Passed
2020-02-28 House
H Placed on General File
2020-02-28 House
H02 - Appropriations:Recommend Amend and Do Pass 7-0-0-0-0
2020-02-24 House
H Introduced and Referred to H02 - Appropriations
2020-02-19 House
H Received for Introduction
2020-02-19 Senate
S 3rd Reading:Passed 30-0-0-0-0
2020-02-18 Senate
S 2nd Reading:Passed
2020-02-17 Senate
S COW:Passed
2020-02-14 Senate
S Placed on General File
2020-02-14 Senate
S02 - Appropriations:Recommend Do Pass 5-0-0-0-0
2020-02-13 Senate
S Introduced and Referred to S02 - Appropriations 30-0-0-0-0
2020-02-11 Senate
S Received for Introduction
2020-02-10 LSO
Bill Number Assigned

Current Bill Text

Read the full stored bill text

20LSO-0232
2020
STATE OF WYOMING
20LSO-0232
Numbered
2.0

SENATE FILE NO. SF0098

PWMTF reserve account.

Sponsored by: Select Committee on Capital Financing & Investments

A BILL

for

AN ACT relating to public funds; amending the threshold for determining the amount of funds in the permanent Wyoming mineral trust fund reserve account annually transferred to the permanent Wyoming mineral trust fund; and providing for an effective date.

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

Section 1.

W.S. 9
‑
4
‑
719(b)(intro) is amended to read:

9
‑
4
‑
719.

Investment earnings spending policy permanent funds.

(b)

There is created the permanent Wyoming mineral trust fund reserve account. Beginning July 1, 2016 for fiscal year 2017 and each fiscal year thereafter, the state treasurer shall transfer unobligated funds from this account to the general fund as necessary to ensure that an amount equal to two and one
‑
half percent (2.5%) of the previous five (5) year average market value of the permanent Wyoming mineral trust fund, calculated on the first day of the fiscal year, is available for expenditure annually during each fiscal year. As soon as possible after the end of each of the fiscal years beginning on and after July 1,
2017
2020
, after making any transfer required pursuant to paragraph (i) of this subsection, revenues in this account in excess of
one hundred fifty percent (150%)
one hundred percent (100%)
of the spending policy amount in subsection (d) of this section shall be credited to the permanent Wyoming mineral trust fund. For fiscal year 2020 and for each fiscal year thereafter:

Section 2
.

This act is effective July 1, 2020
.

(END)

1
SF0098