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21LSO-0682
2021
STATE OF WYOMING
21LSO-0682
Numbered
2.0
HOUSE BILL NO. HB0243
State accounts-elimination and transfer of funds.
Sponsored by: Representative(s) Harshman, Brown, Connolly, Paxton, Sommers and Walters and Senator(s) Rothfuss and Wasserburger
A BILL
for
AN ACT relating to public funds; repealing the Wyoming state penitentiary capital construction account; repealing the legislative deficit control account; providing for the transfer of funds from the repealed accounts; providing an annual transfer of funds to the school capital construction account; providing for transition of invested funds; and providing for an effective date.
Be It Enacted by the Legislature of the State of Wyoming:
Section 1
.
W.S. 9
‑
4
‑
220(a) and (b) by creating a new paragraph (iii) is amended to read:
9
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4
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220.
Strategic investments and projects account
created;
purposes.
(a)
The strategic investments and projects account created by 2013 Wyoming Session Laws, Chapter 73, Section 4, Section 300(e) is continued and codified.
Funds within the account shall only be expended by legislative appropriation.
Subject to subsection (b) of this section,
the governor may include appropriation requests from funds available within the strategic investments and projects account within his biennial budget requests for one
‑
time expenditures as he deems necessary. All funds within the account shall be invested by the state treasurer and all investment earnings from the account shall be credited to the general fund
.
, except as provided by W.S. 9
‑
4
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220.1(a).
(b)
For fiscal year 2021 and in each fiscal year thereafter unencumbered and unobligated funds available for expenditure in the strategic investments and projects account shall be expended for the following purposes and subject to the following:
(iii)
Beginning on June 30, 2021 for fiscal year 2021 and June 30 of each fiscal year thereafter subject to paragraph (
i
) of this subsection, the state treasurer shall transfer ten million dollars ($10,000,000.00), or as much thereof as is available, from any unobligated funds within the strategic investments and projects account to the school capital construction account created by W.S. 21
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15
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111(a)(i).
Section 2.
W.S. 9
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4
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219(c), 9
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4
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220(b)(ii), 9
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4
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220.1 and 9
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4
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715(p)(vi) are repealed.
Section 3.
Subject to section 4 of this act, upon the effective date of this section the state auditor shall transfer the unexpended, unobligated balance in the
Wyoming state penitentiary capital construction account
to the school capital construction account created by W.S. 21
‑
15
‑
111(a)(i). Funds within
the legislative deficit control account shall remain within the legislative stabilization reserve account.
Section 4
.
Notwithstanding the repeal of the Wyoming state penitentiary capital construction account and the transfer of funds within the account made by sections 1 through 3 of this act, the s
tate treasurer may keep funds invested from that account, under the authority of W.S. 9
‑
4
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715(p)(vi) prior to its repeal by this act, invested until such times as may be advantageous for the state’s investment program and cash management.
Upon disinvestment the funds shall be deposited to the school capital construction account in accordance with section 3 of this act.
Section 5.
This act is effective immediately upon completion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constitution.
(END)
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HB0243