The bill establishes the Wyoming Public Safety Communications System Trust Fund, which will be managed by the state treasurer. This fund will consist of various contributions, including grants, gifts, and donations, and is designed to be a permanent trust fund with its corpus remaining inviolate. The state treasurer is authorized to invest the fund's assets to achieve the highest net return while preserving the principal. The bill outlines a distribution plan for the investment earnings, where 10% will be added back to the trust fund corpus, and 90% will be allocated to the Wyoming Department of Transportation for the WyoLink public safety interoperable radio communications system, prioritizing operations, equipment acquisition, infrastructure development, and other expenses.

Additionally, the bill amends existing investment regulations to include the Wyoming Public Safety Communications System Trust Fund as a permissible investment within the pool A investment account. An appropriation of $100 million from the general fund is allocated to the trust fund to support its establishment and investment activities. This appropriation is designed to be continuous and will not lapse at the end of any fiscal period. The act is set to take effect on July 1, 2023.

Statutes affected:
Introduced: 9-4-715