Codifying the institutional land fund.

Plain English Breakdown

The bill summary and official text do not provide specific definitions or amounts related to fund management.

Codifying the Institutional Land Fund

This law establishes rules for a fund containing money from selling state lands and buildings used by health, corrections, and family services departments.

What This Bill Does

• Creates a new rule to continue and codify the Institutional Land Revenue Fund.
• Specifies that the fund will hold money from transactions involving institutional lands as defined in specific Wyoming statutes.
• Requires the State Auditor to account for funds deposited in the account attributable to each department without commingling them.
• Directs how the money can be used: only for major maintenance, capital construction for institutions of the respective departments and reasonable administrative expenses.

Who It Names or Affects

• The Department of Health
• The Department of Corrections
• The Department of Family Services

Terms To Know

Institutional Land Revenue Fund

A special fund that holds money from selling state lands and buildings used by health, corrections, and family services departments.

State Auditor

The person who tracks how the government spends its money to ensure it is being used correctly.

Limits and Unknowns

• Does not define what 'major maintenance' or 'capital construction' means.
• Does not specify how much money should be in the fund at any time.
• Does not detail who can decide how to use the money from the fund.

Official Summary Text

Bill Summary - 22LSO-0354
Bill No.:

SF0073

Effective:

Immediately

LSO No.:

22LSO-0354

Enrolled Act No.:

SEA No. 0032

Chapter No.:

66

Prime Sponsor:

Management Audit Committee

Catch Title:

Codifying the institutional land fund.

Subject:

Institutional land revenue
.

Summary/Major Elements:

This act codifies the previously created Institutional Land Fund which contains revenues from the sale of state institutional properties and lands from the Department of Health, the Department of Corrections, and the Department of Family Services.
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

22LSO-0354

ORIGINAL Senate

File No
.
SF0073

ENROLLED ACT NO. 32,

SENATE

SIXTY-SIXTH LEGISLATURE OF THE STATE OF WYOMING
2022 Budget Session

AN ACT relating to public funds; codifying the institutional land revenue fund; directing expenditures from the fund; and providing for an effective date.

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

Section 1
.

W.S. 9
‑
4
‑
305 by creating a new subsection (d) is amended to read:

9
‑
4
‑
305.

Disposition of state land revenue.

(d)

The institutional land revenue fund created in 2013 Wyoming Session Laws, Chapter 155, Section 2 is hereby continued and codified and shall consist of funds from transactions involving institutional lands under W.S. 9
‑
2
‑
2005(g), 9
‑
2
‑
2006(e) and 9
‑
2
‑
2012(e) for which disposition is not otherwise provided for by state or federal law or the conveyance instrument. The state auditor shall account for funds deposited in the account attributable to each department. Funds in the account attributable to each individual department shall not be commingled. The state treasurer shall invest funds within the fund and shall deposit the earnings from fund investments to the general fund. Funds in the account shall only be appropriated:

(i)

Upon further action of the legislature; and

(ii)

To support major maintenance, capital construction for institutions of the department to which the funds are attributable and reasonable administrative expenses.

Section 2
.

2013 Wyoming Session Laws, Chapter 155, Section 2, is repealed.

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)

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