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HB0116 • 2022

The people's house endowment act.

AN ACT relating to the capitol complex; creating the people's house endowment account; providing appropriations; and providing for an effective date.

Did Not Pass

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

Sponsor
Representative Henderson
Last action
2022-02-18
Official status
inactive
Effective date
3/1/2022

Plain English Breakdown

The official source material does not provide additional details beyond what is already stated in the candidate explanation.

The People's House Endowment Act

This act creates an endowment account for the Capitol complex in Wyoming and provides funding to support its preservation.

What This Bill Does

  • Creates a new fund called the 'People's House Endowment Account' where money can be deposited from various sources, including federal grants and donations.
  • Requires that seventy-five percent of the investment earnings from this account stay within the endowment account while twenty-five percent is given to another preservation fund quarterly.
  • Appropriates fifteen million dollars from Wyoming’s general fund into the People's House Endowment Account.
  • Provides ten million dollars for a separate preservation fund called the Capitol Square Preservation Account.
  • Allocates two hundred thousand dollars to match donations made to the People's House Endowment Account.

Who It Names or Affects

  • The state treasurer, who manages the funds and investments in the endowment account.
  • People or organizations that donate money to the endowment account.
  • Residents of Wyoming who benefit from the preservation of the Capitol complex.

Terms To Know

Endowment Account
A special fund where money is kept and invested for long-term use, often for a specific purpose like preserving historical buildings.
Capitol Square Preservation Account
An existing account that receives funds to help preserve the Capitol complex in Wyoming.

Limits and Unknowns

  • The bill did not pass and was not considered for introduction, so it has no legal effect.
  • Details about how donations will be used or matched are limited by the information provided.

Bill History

  1. 2022-02-18 House

    H Did not Consider for Introduction

  2. 2022-02-15 House

    H Received for Introduction

  3. 2022-02-15 LSO

    Bill Number Assigned

Current Bill Text

Read the full stored bill text 
22LSO-0432
2022
STATE OF WYOMING
22LSO-0432
Numbered
2.0

HOUSE BILL NO. HB0116

The people's house endowment act.

Sponsored by: Representative(s) Henderson

A BILL

for

AN ACT relating to the capitol complex; creating the people's house endowment account; providing appropriations; and providing for an effective date.

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

Section 1.

W.S. 9
‑
5
‑
114 is created to read:

9
‑
5
‑
114.

The people's house endowment account.

(a)

The people's house endowment account is created. The state treasurer may accept federal grants and other contributions, grants, gifts, transfers, bequests and
donations of money from any source for deposit into the account. Funds within the account including all funds deposited to the account from any source are intended to be inviolate and constitute a permanent or perpetual trust fund. The state treasurer shall invest funds within the endowment account in accordance with law. Seventy
‑
five percent (75%) of the account's investment earnings shall be credited to the endowment account. Twenty
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five percent (25%) of the account's investment earnings shall be distributed in accordance with subsection (b) of this section.

(b)

The state treasurer shall distribute twenty
‑
five percent (25%) of investment earnings from the people's house endowment account to the capitol square preservation account created by W.S. 9
‑
4
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225 on a quarterly basis.

Section 2
.

(a)

There is appropriated fifteen million dollars ($15,000,000.00) from the general fund to the people's
house endowment account created by W.S. 9
‑
5
‑
114(a) in section 1 of this act.

(b)

There is appropriated ten million dollars ($10,000,000.00) from the general fund to the capitol square preservation account created by W.S. 9
‑
4
‑
225.

(c)

There is appropriated two hundred thousand dollars ($200,000.00) from the general fund to the capitol square preservation account for the state treasurer's office to match cash gifts to the people's house endowment account created by W.S. 9
‑
5
‑
114(a) in section 1 of this act if required by the gift's requestor. This appropriation shall not be transferred or expended for any other purpose and any unexpended, unobligated funds remaining from this appropriation shall revert as provided by law on June 30, 2024.

Section 3.

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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HB0116