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22LSO-0029
2022
STATE OF WYOMING
22LSO-0029
Numbered
2.0
HOUSE BILL NO. HB0034
State funds-investments and distributions.
Sponsored by: Select Committee on School Facilities
A BILL
for
AN ACT relating to the state funds; revising distribution of funds from the strategic investments and projects account and the school lands mineral royalties account as specified; eliminating the state penitentiary capital construction account; transferring funds; 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
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220(a) and (b) by creating new paragraphs (iii) and (iv) and 9
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4
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224 are amended to read:
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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
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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
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4
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220.1(a)
under subsection (b) of this section
.
(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 July 1, 2022 for fiscal year 2023 and for each fiscal year thereafter, for purposes of funding school district major maintenance, at intervals determined by the state auditor to manage cash flow, the state auditor shall transfer all funds from the school major maintenance subaccount within the strategic investments and projects account to the school capital construction account established under W.S. 21
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15
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111(a)(i).
(iv)
After transfers under paragraph (i) of this subsection,
beginning on June 30, 2022 for fiscal year 2022 and June 30 of each fiscal year thereafter as provided in this paragraph, 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 established under W.S. 21
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111(a)(i). The state treasurer shall cease transferring funds to the school capital construction
account pursuant to this paragraph on July 1, 2038 and thereafter.
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224.
School lands mineral royalties account.
(a)
The school lands mineral royalties account is created.
Funds within the account shall only be expended upon legislative appropriation.
All funds within the account shall be invested by the state treasurer as authorized by law and all investment earnings from the account shall be credited to the school lands mineral royalties account.
(b)
Beginning July 1, 2022 for fiscal years 2023 and for each fiscal year thereafter, for purposes of funding school district major maintenance and school district capital construction, at intervals determined by the state auditor to manage cash flow, the state auditor shall transfer all funds from the school lands mineral royalties account to the school capital
construction
account established under W.S. 21
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15
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111(a)(i).
Section 2.
W.S. 9
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220.1 and 9
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715(p)(vi) are repealed.
Section 3.
The state auditor shall transfer all unencumbered, unobligated funds in the Wyoming state penitentiary capital construction account within the strategic investments and projects account to the school capital construction account established under W.S. 21
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15
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111(a)(i). Any funds that are directed by law to revert to the Wyoming state penitentiary capital construction account within the strategic investments and projects account shall revert to the school capital construction account.
Section 4.
This act is effective immediately upon completion of all acts necessary for bill to become law as provided by Article 5, Section 8 of the Wyoming Constitution
.
(END)
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HB0034