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23LSO-0458
2023
STATE OF WYOMING
23LSO-0458
Numbered
2.0
HOUSE BILL NO. HB0109
Wyoming works for tomorrow.
Sponsored by: Representative(s) Sommers, Berger, Brown and Northrup and Senator(s) Landen
A BILL
for
AN ACT relating to higher education scholarships and grant programs; modifying the award of Wyoming's tomorrow scholarships to include a preference for students enrolled in credential programs approved by the Wyoming community college commission under the Wyoming works program and students enrolled in teacher preparation courses; modifying the calculation of the average market value of the Wyoming's tomorrow scholarship endowment fund as specified; transferring funds; appropriating funds upon receipt of matching private funds as specified; and providing for an effective date.
Be It Enacted by the Legislature of the State of Wyoming:
Section 1
.
W.S. 21
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16
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1902(c) and 21
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16
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1905(b) are amended to read:
21
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16
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1902.
Wyoming's tomorrow scholarship expenditure account created; use and appropriation of funds; calculation of annual average market value.
(c)
The
annual
average market value of the Wyoming's tomorrow scholarship endowment fund shall be calculated as follows for the fiscal year (FY) specified:
(i)
FY
2023
2024
shall be equal to the market value of the Wyoming's tomorrow scholarship endowment fund, calculated from the first
business
day of the fiscal year;
(ii)
FY
2024
2025
shall be equal to the previous two (2) year average market value of the Wyoming's tomorrow scholarship endowment fund, calculated from the first
business
day of the fiscal year;
(iii)
FY
2025
2026
shall be equal to the previous three (3) year average market value of the Wyoming's tomorrow scholarship endowment fund, calculated from the first
business
day of the fiscal year;
(iv)
FY
2026
2027
shall be equal to the previous four (4) year average market value of the Wyoming's tomorrow scholarship endowment fund, calculated from the first
business
day of the fiscal year;
(v)
FY
2027
2028
and each fiscal year thereafter, shall be equal to the previous five (5) year average market value of the Wyoming's tomorrow scholarship endowment fund, calculated from the first
business
day of the fiscal year.
21
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16
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1905.
Administration; rules and regulations.
(b)
The commission shall promulgate rules necessary to implement this article in consultation with the University of Wyoming, the department of workforce services, the Wyoming business council and other stakeholders, including industry representatives. The rules shall provide for a preference to award scholarships which considers workforce shortages and economic development needs of the communities, regions and the state. First preference shall be given to students who received a scholarship under this article in the immediately preceding academic term and remain eligible to receive a scholarship under W.S. 21
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1904(c). Second preference shall be given to students who have secured an industry sponsorship.
Third preference shall be given to students enrolled in credential programs approved by the commission under the Wyoming works program pursuant to W.S. 21
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407(b)(ii). Fourth preference shall be given to students enrolled in teacher preparation programs.
Preference may be given to students based on the length of their Wyoming residency. Preference may be given to students without a degree.
Section 2
.
(a)
On July 1, 2023, the state auditor shall transfer seventy
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five million dollars ($75,000,000.00) from the general fund to the Wyoming's tomorrow scholarship endowment fund created by W.S. 9
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4
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204(u)(ix).
(b)
There is appropriated to the Wyoming's tomorrow scholarship endowment fund five million dollars ($5,000,000.00) from the general fund, conditioned upon a match of funds in the ratio of one dollar ($1.00) of appropriated general fund to not less than one dollar ($1.00) of matching funds from any private or nonpublic funding source.
(c)
The state treasurer shall deposit all private or nonpublic funds received and state matching funds as provided under subsection (b) of this section in the Wyoming's tomorrow scholarship endowment fund. The state treasurer shall make transfers pursuant to this subsection from the general fund to the Wyoming's tomorrow scholarship endowment fund not later than the end of the calendar quarter following any quarter during which private or nonpublic funds are received.
(d)
On July 1, 2023, the state auditor shall transfer fifteen million dollars ($15,000,000.00) from the general fund to the Wyoming works program account created by W.S. 21
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408(a).
(e)
On July 1, 2023, the state auditor shall transfer five million dollars ($5,000,000.00) from the general fund to the Wyoming works student grant account created by W.S. 21
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408(b).
Section 3.
This act is effective July 1, 2023
.
(END)
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HB0109