Broadband development subaccount-amendments.

Plain English Breakdown

The official source material does not provide specific details on how much funding will be allocated to each purpose or what administrative expenses are covered by the $300,000 limit for the Wyoming Business Council.

Amendments to Broadband Development Fund

This law allows the use of broadband development funds for matching grants and administrative expenses, up to $300,000 for the Wyoming Business Council.

What This Bill Does

• Allows the broadband development subaccount funds to be used as a state's share in federal broadband programs like the Broadband Equity, Access and Deployment program.
• Permits the use of these funds to cover administrative costs up to $300,000 for the Wyoming Business Council.

Who It Names or Affects

• The state government and agencies involved in broadband development projects.
• Federal programs related to broadband deployment and access.

Terms To Know

Broadband Equity, Access and Deployment program

A federal initiative aimed at improving internet access and quality across the country.

Wyoming Business Council

An organization that works on economic development projects in Wyoming.

Limits and Unknowns

• The law does not specify how much funding will be allocated to each purpose.
• It is unclear what specific administrative expenses the $300,000 can cover for the Wyoming Business Council.

Official Summary Text

Bill Summary - 24LSO-0353

Bill No.:

HB0071

Effective:

Immediately

LSO No.:

24LSO-0353

Enrolled Act No.:

HEA No. 0003

Chapter No.:

5

Prime Sponsor:

Joint Appropriations Committee

Catch Title:

Broadband development subaccount-amendments.

Has Report:

No

Subject:

Broadband development subaccount amendments.

Summary/Major Elements:

This act authorizes the use of the broadband development subaccount funds to provide the state's share of any matching funds required for the state to receive federal funds under any federal broadband program including the Broadband Equity, Access and Deployment program established by the federal Infrastructure Investment and Jobs Act.

This act authorizes the use of the broadband development subaccount funds to pay the reasonable administrative expenses of the Wyoming Business Council in an amount not to exceed three hundred thousand dollars ($300,000.00).

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

24LSO-0353

ORIGINAL House

Bill No
.
HB0071

ENROLLED ACT NO. 3,

HOUSE OF REPRESENTATIVES

SIXTY-SEVENTH LEGISLATURE OF THE STATE OF WYOMING
2024 Budget Session

AN ACT relating to economic development; authorizing the use of broadband development subaccount funds as matching grant funds and for administrative expenses as specified; and providing for an effective date.

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

Section 1
.

W.S. 9
‑
12
‑
1404(a)(ii) is amended to read:

9
‑
12
‑
1404.

Economic diversification account created; authorized expenditures.

(a)

There is created an economic diversification account. All monies in the account are continuously appropriated to the office of the governor to be used for the purposes of this article and as otherwise specified by law, including per diem, mileage and other administrative expenses of the ENDOW executive council. Notwithstanding W.S. 9
‑
2
‑
1008 and 9
‑
4
‑
207, funds in the account or subaccounts of the account shall not lapse at the end of the fiscal period. Interest earned on funds in the account shall be deposited to the account or appropriate subaccount.

Within the account shall be subaccounts.

For accounting and investment purposes only all subaccounts shall be treated as separate accounts.

The subaccounts are as follows:

(ii)

The broadband development subaccount.

Funds within this subaccount may be expended as requested by the Wyoming business council and approved by the governor or his designee to
:

(A)

P
rovide funding for agreements entered into pursuant to W.S. 9
‑
12
‑
1501 through 9
‑
12
‑
1510;

(B)

Provide the state's share of any matching funds required for the state to receive federal funds under any federal broadband program including, but not limited to, the broadband equity, access and deployment program established by the federal Infrastructure Investment and Jobs Act, P.L. 117
‑
58; 135 Stat. 429;

(C)

Pay the reasonable administrative expenses of the Wyoming business council in an amount not to exceed three hundred thousand dollars ($300,000.00).

Section 2
.

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 House.

Chief Clerk

1