Wyoming energy authority amendments.

Plain English Breakdown

The bill summary does not provide details on specific funding allocations or technologies covered under critical materials and rare earth minerals, leaving these points uncertain.

Wyoming Energy Authority Amendments

This law changes the Wyoming Energy Authority's goals to include supporting mineral industries and allows it to fund projects related to rare earth minerals, critical materials, trona, and other minerals.

What This Bill Does

• Changes the purpose of the Wyoming Energy Authority to support efforts that maintain or expand rare-earth-minerals, critical-materials, and trona industries in Wyoming.
• Adds definitions for 'critical material' and 'rare earth mineral'.
• Includes geothermal and pumped hydro-energy projects as types of energy projects supported by the authority.
• Allows the Energy Authority to issue bonds to fund projects related to rare-earth minerals, critical materials, trona, and other minerals in Wyoming.

Who It Names or Affects

• The Wyoming Energy Authority
• Mineral industries in Wyoming

Terms To Know

Critical material

A substance used in technology or production for which there are supply risks and no readily available substitute.

Rare earth mineral

A metallic element of the lanthanide series, scandium, yttrium, and other elements with similar properties.

Limits and Unknowns

• The bill does not specify how much funding will be allocated for these projects.
• It is unclear what specific minerals or technologies are covered under 'critical materials' and 'rare earth minerals'.

Official Summary Text

Bill Summary - 21LSO-0214
Bill No.:

SF0043

Effective:

7/1/2021 12:00:00 AM

LSO No.:

21LSO-0214

Enrolled Act No.:

SEA No. 0004

Chapter No.:

1

Prime Sponsor:

Joint Minerals, Business & Economic Development Interim Committee

Catch Title:

Wyoming energy authority amendments.

Subject:

Specifying the role and purposes of the Wyoming Energy Authority.

Summary/Major Elements:

The Wyoming Energy Authority commenced on July 1, 2020 as the successor entity to the Wyoming Pipeline Authority and the Wyoming Infrastructure Authority. Among other things, the Energy Authority was created to diversify and expand Wyoming's economy through the production, development, and transmission of energy and natural resources.

The act amends the purposes of the Energy Authority to include as a purpose the support of efforts to maintain and expand the rare-earth-minerals industry, the critical-materials industry, the trona industry, and other mineral industries in Wyoming.

The act amends the definition of "energy project" to expressly include geothermal and pumped hydro-energy projects.

The act clarifies that projects concerning rare-earth minerals, critical materials, and trona can utilize the current bonding capacity available through the Energy Authority.

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

21LSO-0214

ORIGINAL Senate

ENGROSSED
File No
.
SF0043

ENROLLED ACT NO. 4,

SENATE

SIXTY-SIXTH LEGISLATURE OF THE STATE OF WYOMING
2021 General Session

AN ACT relating to the Wyoming energy authority; amending the purposes of the energy authority to include support for specified minerals industries; specifying geothermal and pumped hydro energy projects as projects which may be supported by the authority; authorizing bonding for projects involving specified minerals; providing and amending definitions; and providing for an effective date.

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

Section 1
.

W.S. 37
‑
5
‑
501(a)(iv), (v) and by creating new paragraphs (viii) and (ix), 37
‑
5
‑
503(a) by creating a new paragraph (x) and 37
‑
5
‑
602(c) and by creating a new subsection (n) are amended to read:

37
‑
5
‑
501.

Definitions.

(a)

As used in this article:

(iv)

"Energy project" means any project related to or involving a natural resource associated with energy or an associated natural resource
, including specifically geothermal and pumped hydro energy
projects
;

(v)

"Natural resource associated with energy" or "associated natural resource" means any technology or any substance,
mineral,
element or compound, either gaseous, liquid or solid, associated with the production,
development, refining, processing, storage or transmission of energy
or as otherwise provided in this
article
;

(viii)

"Critical material" means any substance used in technology or production for which there are supply risks and for which there is
no
readily available or accessible substitute in the United States;

(ix)

"Rare earth mineral" means a metallic element of the lanthanide series of the periodic table, scandium,
yttrium
and any other metallic element with similar physical and chemical properties to any element specified in this paragraph.

37
‑
5
‑
503.

Purposes; report.

(a)

The authority is created to:

(x)

Support efforts to maintain and expand the rare earth minerals industry, the critical materials industry, the trona industry and other mineral industries in Wyoming and to maintain and expand the production of products and materials using rare earth minerals, critical materials, trona and other minerals.

37
‑
5
‑
602.

Authority revenue bonds; issuance; amount.

(c)

The principal amount of any bonds that have been retired, redeemed, defeased or refunded by the authority need not be taken into account in computing compliance with the maximum amounts of bonds authorized to be issued under subsections
(a) and
(b)
and (n)
of this section.

(n)

Subject to subsection (b) of this section and consistent with the purposes of W.S. 37
‑
5
‑
503(a), the
authority may issue and have outstanding bonds to finance facilities, infrastructure and other transportation and distribution projects related to the production, transportation, distribution and utilization of rare earth minerals, critical materials, trona and other minerals that are located in Wyoming.

Section 2
.

This act is effective July 1, 2021
.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the Senate.

Chief Clerk

1