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23LSO-0415
2023
STATE OF WYOMING
23LSO-0415
Numbered
2.0
HOUSE BILL NO. HB0132
Wyoming housing trust fund.
Sponsored by: Representative(s) Zwonitzer, Dn and Senator(s) Nethercott
A BILL
for
AN ACT relating to public assistance and social services; creating the Wyoming housing trust fund; creating the Wyoming housing trust fund earnings account; providing legislative findings; requiring a study; providing an appropriation; and providing for an effective date.
Be It Enacted by the Legislature of the State of Wyoming:
Section 1
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W.S. 42
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2
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601 through 42
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2
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603 are created to read:
ARTICLE 6
WYOMING HOUSING TRUST FUND
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2
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601.
Short title.
This article shall be known and may be cited as the "Wyoming Housing Trust Fund."
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2
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602.
Wyoming housing trust fund; purpose.
(a)
The legislature finds and declares that:
(i)
There is in this state a critical shortage of adequate, affordable housing;
(ii)
It is in the public interest of the citizens of this state to facilitate the provision of adequate, affordable housing in order to promote the economic welfare of the state and its residents by increasing employment, stimulating economic activity, augmenting sources of tax revenue, fostering economic stability and improving the state's economy;
(iii)
It is the purpose of this article to promote and continue economic development by providing adequate housing necessary to create additional economic benefit to the state;
(iv)
This article constitutes a valid public purpose of primary benefit to all citizens of the state of Wyoming.
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2
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603.
Wyoming housing trust fund created; corpus inviolate; investment by state treasurer.
(a)
The Wyoming housing trust fund is created. The fund shall consist of those funds designated to the fund by law and all monies collected from federal grants and other contributions, grants, gifts, bequests and donations to the housing trust fund.
(b)
The monies deposited into the Wyoming housing trust fund established pursuant to this section are intended to be inviolate and constitute a permanent or perpetual trust fund. The state treasurer shall invest the fund 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 housing trust fund shall be credited by the state treasurer into the Wyoming housing trust fund earnings account which is hereby created.
Section 2.
During the 2023 interim, the joint appropriations committee shall conduct a study examining the creation of a Wyoming housing trust fund program that shall distribute earnings from the trust fund to affordable housing projects. Pursuant to the study, the joint appropriations committee shall bring any necessary or advantageous legislation for the 2024 Budget Session. Such legislation shall comply with article 3, section 36 and article 16, section 6 of the Wyoming constitution and require that the attorney general certify the legality of the housing trust fund program and its method for distribution of earnings.
Section 3.
There is appropriated fifteen million dollars ($15,000,000.00) from the general fund to the Wyoming housing trust fund for the purpose of funding the Wyoming housing trust fund as created by this act. This appropriation shall not be transferred or expended for any other purpose. Notwithstanding W.S. 9-2-1008, 9-2-1012(e) and 9-4-207, this appropriation shall remain in effect and not lapse or revert at the end of the fiscal period except upon further legislative action.
Section 4.
This act is effective July 1, 2023.
(END)
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HB0132