HB0233 • 2021

PWMTF earnings distributions.

AN ACT relating to public funds; amending the distribution of earnings from the permanent Wyoming mineral trust fund; repealing an obsolete provision; and providing for an effective date.

Budget Land

Did Not Pass

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

Sponsor: Representative Brown
Last action: 2021-03-08
Official status: inactive
Effective date: 3/1/2021

Plain English Breakdown

The official source material does not provide specific details on how the changes would affect entities receiving funding from the Permanent Wyoming Mineral Trust Fund.

Changes to Wyoming Mineral Trust Fund Earnings

The bill proposes changes to how earnings from the Permanent Wyoming Mineral Trust Fund are distributed and removes an outdated provision.

What This Bill Does

Amends how excess earnings from the Permanent Wyoming Mineral Trust Fund, above a certain percentage of its value, are allocated.
Repeals an obsolete provision related to fund distribution.

Who It Names or Affects

The state of Wyoming's budget and financial management
Entities that receive funding from the Permanent Wyoming Mineral Trust Fund

Terms To Know

Permanent Wyoming Mineral Trust Fund: A fund established to manage earnings from mineral resources in Wyoming.
Legislative Stabilization Reserve Account: An account used by the state legislature for financial stability and reserve purposes.

Limits and Unknowns

The bill did not pass and was not considered for introduction.
Details on how the changes would affect specific entities are not provided in the summary.

Bill History

2021-03-08 House
H Did Not Consider for Introduction
2021-03-08 House
H Did not Consider for Introduction
2021-03-04 House
H Received for Introduction
2021-03-03 LSO
Bill Number Assigned

Current Bill Text

Read the full stored bill text

21LSO-0584
2021
STATE OF WYOMING
21LSO-0584
Numbered
2.0

HOUSE BILL NO. HB0233

PWMTF earnings distributions.

Sponsored by: Representative(s) Brown

A BILL

for

AN ACT relating to public funds; amending the distribution of earnings from the permanent Wyoming mineral trust fund; repealing an obsolete provision; and providing for an effective date.

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

Section 1
.

W.S. 9
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4
‑
719(q)(i) is amended to read:

9
‑
4
‑
719.

Investment earnings spending policy permanent funds.

(q)

The earnings from the permanent Wyoming mineral trust fund under W.S. 9
‑
4
‑
204(u)(iii) during each fiscal year beginning July 1, 2016, which are less than the spending policy established in subsection (d) of this section are appropriated from the general fund subject to subsection (s) of this section and the following:

(i)

Except as provided in paragraph (iii) of this subsection,
A
ny earnings in excess of two and one
‑
half percent (2.5%) of the previous five (5) year average market value of the trust fund, calculated from the first day of the fiscal year and less than or equal to the spending policy amount specified in subsection (d) of this section shall be credited to the
legislative stabilization reserve account created by W.S. 9
‑
4
‑
219
general fund
and the strategic investments and projects account created by W.S. 9
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4
‑
220 in equal amounts;

Section 2.

W.S. 9
‑
4
‑
719(q)(iii) is repealed.

Section 3.

This act is effective July 1, 2021
.

(END)

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HB0233