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HB0046 • 2023

Wyoming public safety communications system trust fund.

AN ACT relating to public safety communications; creating the Wyoming public safety communications system trust fund to be administered by the state treasurer; authorizing the receipt of donations and gifts; authorizing distribution of investment earnings; amending permissible state investments; providing for a continuous appropriation; providing an appropriation; and providing for an effective date.

Budget
Inactive

Wyoming marks this bill as inactive, which usually means it is no longer moving in the current session.

Sponsor
Transportation
Last action
2023-02-07
Official status
inactive
Effective date
3/1/2023

Plain English Breakdown

The bill was marked as inactive and died in committee, meaning the provisions described will not be implemented unless reintroduced and passed in a future session.

Wyoming Public Safety Communications System Trust Fund

The bill creates a trust fund to support the statewide public safety interoperable radio communications system called WyoLink, allowing for donations and investments.

What This Bill Does

  • Creates a new Wyoming public safety communications system trust fund managed by the state treasurer.
  • Allows the trust fund to receive grants, gifts, transfers, bequests, donations, and other contributions.
  • Requires the state treasurer to invest the funds in a way that maximizes returns while preserving the original amount of money (corpus).
  • Distributes 90% of investment earnings semiannually to the Wyoming Department of Transportation for WyoLink purposes.
  • Amends permissible state investments to include the new trust fund.

Who It Names or Affects

  • The state treasurer who will manage and invest the funds.
  • The Wyoming Department of Transportation which receives funding from the trust fund.
  • Local government users of the statewide public safety radio system (WyoLink).

Terms To Know

Corpus
The original amount of money in a trust fund that must be preserved.
Trust Fund
A fund managed by someone (like the state treasurer) for specific purposes, such as supporting public safety communications.

Limits and Unknowns

  • The bill did not pass and is marked as inactive.
  • It does not specify how donations or gifts will be used beyond being added to the trust fund.
  • Details on how investment earnings are distributed for WyoLink purposes are outlined but do not include specific amounts.

Bill History

  1. 2023-02-07 House

    H:Died in Committee Returned Bill Pursuant to HR 5-4

  2. 2023-02-07 House

    H No report prior to CoW Cutoff

  3. 2023-01-13 House

    H Introduced and Referred to H02 - Appropriations

  4. 2023-01-06 House

    H Received for Introduction

  5. 2022-12-12 LSO

    Bill Number Assigned

Current Bill Text

Read the full stored bill text 
23LSO-0210
2023
STATE OF WYOMING
23LSO-0210
Numbered
2.0

HOUSE BILL NO. HB0046

Wyoming public safety communications system trust fund.

Sponsored by: Joint Transportation, Highways & Military Affairs Interim Committee

A BILL

for

AN ACT relating to public safety communications; creating the Wyoming public safety communications system trust fund to be administered by the state treasurer; authorizing the receipt of donations and gifts; authorizing distribution of investment earnings; amending permissible state investments; providing for a continuous appropriation; providing an appropriation; and providing for an effective date.

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

Section 1
.

W.S. 9
‑
2
‑
1107 is created to read:

9
‑
2
‑
1107.

Wyoming public safety communications system trust fund; corpus inviolate; investment by state treasurer; distributions.

(a)

The Wyoming public safety communications system trust fund is created. The Wyoming public safety communications system trust fund shall consist of those funds designated to the fund by law and all monies collected from grants, gifts, transfers, bequests, donations and other contributions to the Wyoming public safety communications system trust fund.

(b)

The monies deposited into the Wyoming public safety communications system trust fund established under this section are inviolate and constitute a permanent or perpetual trust fund. The monies shall be transmitted to the state treasurer for credit to the trust fund and shall be invested by the state treasurer as authorized by law and in a manner to obtain the highest net return possible consistent with the preservation of the corpus. Any earnings from investment of the corpus of the trust fund shall be credited by the state treasurer into a separate account and are continuously appropriated in accordance with subsection (c) of this section.

(c)

Semiannually the state treasurer shall:

(i)

Credit ten percent (10%) of realized investment earnings from funds in the Wyoming public safety communications system trust fund to the Wyoming public safety communications system trust fund corpus;

(ii)

Distribute ninety percent (90%) of realized investment earnings to the Wyoming department of transportation. Funds distributed under this paragraph shall only be expended for purposes of the statewide public safety interoperable radio communications system commonly referred to as WyoLink. Funds shall be distributed for WyoLink purposes in the order of priority listed below, funding each priority in full before expending any funds for the next priority:

(A)

Operations and maintenance, including offsetting any charges to local government users of the system;

(B)

Acquisition or lease and maintenance of state and local government user equipment;

(C)

Infrastructure development and expansion;

(D)

Other expenses.

Section 2.

W.S. 9
‑
4
‑
715(p) by creating a new paragraph (xvi) is amended to read:

9
‑
4
‑
715.

Permissible investments.

(p)

There is created the pool A investment account. The state treasurer, or his designee, which shall be registered under the Investment Advisor's Act of 1940 as amended if required to be registered by the terms of that act as amended, pursuant to subsections (c) and (d) of this section and after consultation with the state agency or agencies receiving or administering investment earnings from the monies invested in the pool A investment account, may invest monies comprising the pool A investment account in equities including stocks of corporations in accordance with subsections (a) and (c) through (e) of this section and W.S. 9
‑
4
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716. The state loan and investment board, in consultation with the state agency or agencies receiving or administering investment earnings from the monies invested in the pool A investment account, shall annually review the state investment policy statements for the investment pool created by this subsection as required under W.S. 9
‑
4
‑
716. Monies in the following funds shall be invested in the pool A investment account:

(xvi)

The Wyoming public safety communications system trust fund created by W.S. 9
‑
2
‑
1107(a).

Section 3.

There is appropriated one hundred million dollars ($100,000,000.00) from the general fund to the Wyoming public safety communications system trust fund created by W.S.

9
‑
2
‑
1107(a) under section 1 of this act for purposes of funding the corpus of the Wyoming public safety communications system trust fund and investment as authorized under W.S.

9
‑
2
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1107(b). This appropriation shall not lapse or revert at the end of any fiscal period.

Section 4
.

This act is effective July 1, 2023
.

(END)

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HB0046