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24LSO-0135
ORIGINAL House
Bill No
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HB0138
ENROLLED ACT NO. 51,
HOUSE OF REPRESENTATIVES
SIXTY-SEVENTH LEGISLATURE OF THE STATE OF WYOMING
2024 Budget Session
AN ACT relating to the investment of state funds; specifying a minimum size for new accounts added to the pool A investment account; removing specified accounts from participation in the pool A investment account; providing appropriations; 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. 9
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4
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715(p)(intro) and (ix), 34
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24
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124(c) and 41
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2
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124(f) are amended to read:
9
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4
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715.
Permissible investments
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(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
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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
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4
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716.
On and after July 1, 2024, any new fund or account that is added to the pool A investment account shall have and maintain a cash balance, as determined consistent with W.S. 9
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4
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108, of not less than five million dollars ($5,000,000.00).
Monies in the following funds shall be invested in the pool A investment account:
(ix)
The emergency water projects account created by W.S. 41
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2
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124(f),
including
excluding
the voluntary pool program subaccount within that account;
34
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24
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124.
Deposit of funds; investment of funds; loans; immunity from liability
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(c)
An action or proceeding shall not be commenced against the state, the administrator or his designee because of an act of the administrator under this section
or under W.S. 9
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4
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715(p)(viii)
involving the investment of unclaimed property funds.
41
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2
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124.
Accounts created; unexpended balance
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(f)
There is created the emergency water projects account. All funds in the account are continuously appropriated to the water development commission for the purpose of funding emergency water projects as authorized by this subsection and subsections (g) and (h) of this section.
Except for funds associated with the voluntary pool program that are placed in the voluntary pool program subaccount within the emergency water projects account, f
unds within the
emergency water projects
account shall be invested in the pool A investment account by the state treasurer pursuant to W.S. 9
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4
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715(p). Earnings from funds in the account shall be deposited in the account. Notwithstanding W.S. 9
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1
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417, if the state loan and investment board determines that funds in the account are insufficient to make payment for the full cost of addressing emergency water projects which may occur in any year, the board is authorized to obtain a loan from the legislative stabilization reserve account of up to two million dollars ($2,000,000.00) which loan shall be repaid by interest earnings or loan repayments from the emergency water projects account.
Section 2
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W.S. 9
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4
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715(p)(viii), (xii) and (xv) is repealed.
Section 3
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(a)
There is appropriated two million thirty
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five thousand dollars ($2,035,000.00) from the general fund to the Wyoming public television matching funds account created by W.S. 21
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23
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202, or an amount up to two million thirty
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five thousand dollars ($2,035,000.00), whichever amount is less, as necessary to increase the cash balance of the Wyoming public television matching funds account, as measured on June 30, 2024, to five million dollars ($5,000,000.00).
This appropriation shall not be transferred or expended for any other purpose and any unexpended, unobligated funds remaining from this appropriation and not deposited in the Wyoming public television matching funds account shall revert as provided by law on June 30, 2025.
(b)
There is appropriated one million nine hundred five thousand dollars ($1,905,000.00) from the general fund to the state fair endowment account created by W.S. 11
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10
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118, or an amount up to one million nine hundred five thousand dollars ($1,905,000.00), whichever amount is less, as necessary to increase the cash balance of the state fair endowment account, as measured on June 30, 2024, to five million dollars ($5,000,000.00).
This appropriation shall not be transferred or expended for any other purpose and any unexpended, unobligated funds remaining from this appropriation and not deposited in the state fair endowment account shall revert as provided by law on June 30, 2025.
Section 4
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This act is effective July 1, 2024
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(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
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