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HB0164 • 2026

Wyoming generational investment account.

AN ACT relating to the investment of state funds; creating the Wyoming generational investment account; specifying the investment of funds in the account; specifying the disposition of investment earnings; providing for the accounting and administration of the account; requiring transfers of funds; making conforming amendments; and providing for an effective date.

Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor
Representative Williams
Last action
2026-02-13
Official status
inactive
Effective date
3/1/2026

Plain English Breakdown

The bill did not pass and was never considered for introduction. Therefore, many details about management and specific requirements remain speculative.

Wyoming Generational Investment Account

This act creates the Wyoming generational investment account for long-term investment and specifies how funds are transferred and earnings are distributed.

What This Bill Does

  • Creates a new Wyoming Generational Investment Account where money can be invested for future use.
  • Specifies that $100 million will be transferred annually from the legislative stabilization reserve to this new investment account, starting July 1, 2026.
  • States that after 20 years, earnings from these investments must go back into the general fund or the stabilization reserve.

Who It Names or Affects

  • The State of Wyoming and its financial institutions will manage this new account.
  • Taxpayers and residents may benefit from future earnings that go into state programs or reserves.

Terms To Know

Legislative Stabilization Reserve Account
A fund used by the Wyoming government to handle unexpected financial needs or emergencies.

Limits and Unknowns

  • The bill did not pass and was never considered for introduction.
  • Details about the exact management of the account are left to future decisions by the State Treasurer and Investment Funds Committee.
  • It is unclear how much money will actually be available each year for transfer into this new investment account.

Bill History

  1. 2026-02-13 House

    H Did not Consider for Introduction

  2. 2026-02-11 House

    H Received for Introduction

  3. 2026-02-10 LSO

    Bill Number Assigned

Current Bill Text

Read the full stored bill text 
26LSO-0392
2026
STATE OF WYOMING
26LSO-0392
Numbered
2.0

HOUSE BILL NO. HB0164

Wyoming generational investment account.

Sponsored by: Representative(s) Williams and Harshman and Senator(s) Crago and Gierau

A BILL

for

AN ACT relating to the investment of state funds; creating the Wyoming generational investment account; specifying the investment of funds in the account; specifying the disposition of investment earnings; providing for the accounting and administration of the account; requiring transfers of funds; making conforming amendments; and providing for an effective date.

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

Section 1
.

W.S. 9
‑
4
‑
227 is created to read:

9
‑
4
‑
227.

Wyoming generational investment account.

(a)

There is created the Wyoming generational investment account. The account shall consist of all funds transferred or appropriated to the account by law. All monies deposited or transferred into the account are intended to be inviolate and constitute a permanent or perpetual trust fund, subject to the provisions for the withdrawal of funds provided by this section.

(b)

The state treasurer shall invest all funds within the Wyoming generational investment account in accordance with W.S. 9
‑
4
‑
715(a) and (c) through (e) and 9
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4
‑
716. W.S. 9
‑
4
‑
716(e) shall not apply to the account. The state treasurer, or the treasurer's designee, which shall be registered under the federal Investment Advisor's Act of 1940, as amended and if required to be registered by the terms of that act, may invest the unobligated, unencumbered balance of the account in equities, including stocks of corporations. The account shall be invested so that the overall risk profile of the account's investments shall not materially exceed the risk profile of a reference portfolio that consists of eighty
‑
five percent (85%) private equity and fifteen percent (15%) private credit investments. In adopting investment policy statements for the account, the state loan and investment board shall seek to preserve the balance of the account in a manner that strives for the highest possible risk
‑
adjusted total net return consistent with an appropriate level of safety and liquidity, giving consideration to the account's potential extended investment period and the extended period during which monies in the account may be ineligible for withdrawal.

(c)

Beginning on July 1, 2026 and on each July 1 thereafter, the state auditor shall transfer one hundred million dollars ($100,000,000.00), or as much thereof as is available without reducing the unexpended, unobligated balance of the legislative stabilization reserve account to under one billion dollars ($1,000,000,000.00), from the legislative stabilization reserve account to the Wyoming generational investment account. The transfer under this subsection shall occur after all other transfers and appropriations from the legislative stabilization reserve account required by law for the fiscal year are made.

(d)

Transfers made under subsection (c) of this section, and the investment of those transfers, shall be in accordance with all of the following:

(i)

The state treasurer shall separately account for the attribution of earnings from each annual transfer made under subsection (c) of this section and shall separately account for all earnings from each annual transfer;

(ii)

Annual transfers shall not be withdrawn from the account;

(iii)

Investment earnings from each annual transfer shall not be withdrawn except in accordance with subsection (e) of this section.

(e)

Beginning on July 1 for each fiscal year starting twenty (20) fiscal years after a transfer is made under subsection (c) of this section, all investment earnings in the Wyoming generational investment account arising from the annual transfer to the account made twenty (20) fiscal years earlier shall be transferred and deposited in accordance with this subsection. For purposes of this subsection:

(i)

"Investment earnings" mean all interest income, dividends, realized capital gains and returned capital;

(ii)

Investment earnings shall be transferred in accordance with the following:

(A)

One
‑
half (1/2) of the investment earnings specified in this subsection shall be transferred to the general fund;

(B)

One
‑
half (1/2) of the investment earnings specified in this subsection shall be transferred to the legislative stabilization reserve account for investment in accordance with W.S. 9
‑
4
‑
715(q)(iii).

(iii)

Investment earnings shall be distributed under this subsection as the earnings are received or when the fund from which earnings are derived matures.

Section 2.

W.S. 9
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2
‑
1013(d)(iii) by creating a new subparagraph (E), 9
‑
4
‑
203(a)(xiii) and 9
‑
4
‑
716(e) are amended to read:

9
‑
2
‑
1013.

State budget; distribution of copies to legislators; copies and reports of authorizations; interfund loans.

(d)

In addition to the items contained in subsection (a) of this section and notwithstanding any other recommendations made by the governor, the state budget shall also include the governor's recommendations for appropriations for the ensuing two (2) years, or if a supplemental budget request, the remainder of the budget period, subject to the following:

(iii)

The total recommended appropriations under this subsection shall not include any of the following:

(E)

The appropriation, diversion or transfer of any funds deposited from the Wyoming generational investment account in accordance with W.S. 9
‑
4
‑
227(e).

9
‑
4
‑
203.

Definitions.

(a)

As used in this act:

(xiii)

"This act" means W.S. 9
‑
4
‑
202 through
9
‑
4
‑
226
9
‑
4
‑
227
.

9
‑
4
‑
716.

State investment policy; investment consultant
.

(e)

In investing monies of a fund or account which may be invested in stock of a corporation or other equities, the overall risk profile of the investments, excluding any specific public purpose investment authorized or directed by the legislature,

shall not materially exceed the risk profile of a reference portfolio that consists of seventy percent (70%) global equities and thirty percent (30%) domestic fixed income investments. The state treasurer after consultation with the investment funds committee shall submit to the board the committee's recommendations of specific benchmarks for the measurement of the portfolio risk characteristics. The specific benchmarks shall be determined by the board. Any provision of law which restricts
or expands
the investment of a specific fund or account to a greater degree than the provisions of this subsection shall control over this subsection.

Section 3
.

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)

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HB0164