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25LSO-0080
2025
STATE OF WYOMING
25LSO-0080
Numbered
2.0
SENATE FILE NO. SF0028
ROTC endowment program.
Sponsored by: Joint Transportation, Highways & Military Affairs Interim Committee
A BILL
for
AN ACT relating to education; creating the University of Wyoming reserve officers' training corps endowment; creating accounts for the endowment; providing for distributions and transfers from the accounts to the University of Wyoming's reserve officers' training corps programs; providing for the investment of the endowment fund in equities; specifying authorized expenditures; requiring reporting; making conforming amendments; 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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2001 through 21
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16
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2003 are created to read:
ARTICLE 20
UNIVERSITY OF WYOMING RESERVE OFFICERS'
TRAINING CORPS ENDOWMENT FUND
21
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16
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2001.
University of Wyoming reserve officers' training corps endowment fund; accounts; transfers.
(a)
The University of Wyoming reserve officers' training corps endowment fund is created as provided by W.S. 9
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4
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204(u)(x).
(b)
There is created the University of Wyoming reserve officers' training corps income account. The state treasurer shall yearly as soon as possible after July 1 distribute investment earnings from the University of Wyoming reserve officers' training corps endowment fund to the University of Wyoming reserve officers' training corps income account for disbursement and expenditure in accordance with this article. In any fiscal year, the University of Wyoming's reserve officers' training corps programs may expend an amount not to exceed one hundred percent (100%) of the prior fiscal year's investment earnings distributed to the University of Wyoming reserve officers' training corps income account in accordance with this article.
(c)
Accrued interest and other earnings on unexpended funds within the University of Wyoming reserve officers' training corps income account shall be credited to the account.
(d)
Any unexpended, unobligated funds remaining in the University of Wyoming reserve officers' training corps income account on June 30 of each fiscal year shall be credited to the University of Wyoming reserve officers' training corps endowment fund created by W.S. 9
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4
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204(u)(x) not later than ninety (90) days after the end of the fiscal year.
(e)
The University of Wyoming board of trustees shall:
(i)
Ensure that all amounts deposited in the University of Wyoming reserve officers' training corps income account and available for expenditure under subsection (b) of this section are disbursed to the University of Wyoming's reserve officers' training corps programs for expenditure in accordance with this article without delay;
(ii)
Not account for any amounts disbursed to the University of Wyoming's reserve officers' training corps programs under this section when developing the University of Wyoming's biennial budget request;
(iii)
Not decrease any amount from the University of Wyoming's biennial budget that is budgeted or allocated to the University of Wyoming's reserve officers' training corps programs based on the amounts that the University of Wyoming's reserve officers' training corps programs receive under this section;
(iv)
Not later than December 1 of each year, report to the joint transportation, highways and military affairs interim committee and the joint appropriations committee on the development and implementation of the University of Wyoming's reserve officers' training corps programs' budget in accordance with this section.
21
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16
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2002.
University of Wyoming reserve officers' training corps income account; distributions.
(a)
Subject to subsection (b) of this section, the University of Wyoming's reserve officers' training corps programs shall use the funds received under W.S. 21
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16
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2001 for the following purposes:
(i)
Academic programs that support the military including general military courses, officer courses, military science studies and aerospace studies;
(ii)
Tactical laboratory programs including field training;
(iii)
Instructional and resource materials, classroom equipment and other resources necessary to support the work of the University of Wyoming's reserve officers' training corps programs in fulfilling the purposes specified in paragraphs (i) and (ii) of this subsection;
(iv)
Recruitment and retention of students in the University of Wyoming's reserve officers' training corps programs;
(v)
The recruitment and retention of faculty with established reputations for excellence in the military or military instruction in the programs and opportunities specified in paragraphs (i) through (iv) of this subsection;
(vi)
Financial aid for students in the University of Wyoming's reserve officers' training corps programs including scholarships, grants and tuition assistance.
21
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16
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2003.
University of Wyoming reserve officers' training corps endowment; annual report.
(a)
Not later than October 1, 2026 and October 1 of each year thereafter, the University of Wyoming's reserve officers' training corps programs shall report to the governor, the joint appropriations committee and the joint transportation, highways and military affairs interim committee on the investment, use and expenditure of funds and investment earnings from the University of Wyoming reserve officers' training corps endowment fund and University of Wyoming reserve officer's training corps income account, including the following:
(i)
University of Wyoming's reserve officers' training corps programs supported through the use and expenditure of investment earnings including a listing of expenditures divided by each purpose specified in W.S. 21
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16
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2002(a)(i) through (vi);
(ii)
Faculty positions partially or fully funded through the investment earnings.
Section 2.
W.S. 9
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4
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204(u) by creating a new paragraph (x) and 9
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4
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714(a)(v) are amended to read:
9
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4
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204.
Funds established; use thereof.
(u)
Other funds defined as follows shall be classified by the state auditor pursuant to subsections (s) and (t) of this section:
(x)
University of Wyoming reserve officers' training corps endowment fund–to consist of funds appropriated to the fund by law or by gift from whatever source. In accordance with article 15, section 20 of the Wyoming constitution, monies within the fund shall not be expended and may be invested in the same manner as other permanent funds of the state. Earnings from investment of monies within the fund are subject to W.S. 21
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16
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2001 through 21
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16
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2003 and shall be distributed and expended as provided by law;
9
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4
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714.
Definitions.
(a)
As used in this act:
(v)
"Permanent funds" means the permanent Wyoming mineral trust fund under W.S. 9
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4
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204(u)(iii), the Wyoming permanent land fund under W.S. 9
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4
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204(u)(iv), the excellence in higher education endowment fund under W.S. 9
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4
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204(u)(vi), the Hathaway student scholarship endowment fund under W.S. 9
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4
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204(u)(vii), the Hathaway expand Wyoming scholarship endowment fund under W.S. 9
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4
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204(u)(viii)
,
and
the Wyoming's tomorrow scholarship endowment fund under W.S. 9
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4
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204(u)(ix)
and the University of Wyoming reserve officers' training corps endowment fund under W.S. 9
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4
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204(u)(x)
;
Section 3
.
This act is effective July 1, 2025
.
(END)
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SF0028