2023 23LSO-0210
STATE OF WYOMING
HOUSE BILL NO. HB0046
Wyoming public safety communications system trust fund.
Sponsored by: Joint Transportation, Highways & Military Affairs Interim Committee
A BILL
for
1 AN ACT relating to public safety communications; creating
2 the Wyoming public safety communications system trust fund
3 to be administered by the state treasurer; authorizing the
4 receipt of donations and gifts; authorizing distribution of
5 investment earnings; amending permissible state
6 investments; providing for a continuous appropriation;
7 providing an appropriation; and providing for an effective
8 date.
9
10 Be It Enacted by the Legislature of the State of Wyoming:
11
12 Section 1. W.S. 9-2-1107 is created to read:
13
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1 9-2-1107. Wyoming public safety communications system
2 trust fund; corpus inviolate; investment by state
3 treasurer; distributions.
4
5 (a) The Wyoming public safety communications system
6 trust fund is created. The Wyoming public safety
7 communications system trust fund shall consist of those
8 funds designated to the fund by law and all monies
9 collected from grants, gifts, transfers, bequests,
10 donations and other contributions to the Wyoming public
11 safety communications system trust fund.
12
13 (b) The monies deposited into the Wyoming public
14 safety communications system trust fund established under
15 this section are inviolate and constitute a permanent or
16 perpetual trust fund. The monies shall be transmitted to
17 the state treasurer for credit to the trust fund and shall
18 be invested by the state treasurer as authorized by law and
19 in a manner to obtain the highest net return possible
20 consistent with the preservation of the corpus. Any
21 earnings from investment of the corpus of the trust fund
22 shall be credited by the state treasurer into a separate
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1 account and are continuously appropriated in accordance
2 with subsection (c) of this section.
3
4 (c) Semiannually the state treasurer shall:
5
6 (i) Credit ten percent (10%) of realized
7 investment earnings from funds in the Wyoming public safety
8 communications system trust fund to the Wyoming public
9 safety communications system trust fund corpus;
10
11 (ii) Distribute ninety percent (90%) of realized
12 investment earnings to the Wyoming department of
13 transportation. Funds distributed under this paragraph
14 shall only be expended for purposes of the statewide public
15 safety interoperable radio communications system commonly
16 referred to as WyoLink. Funds shall be distributed for
17 WyoLink purposes in the order of priority listed below,
18 funding each priority in full before expending any funds
19 for the next priority:
20
21 (A) Operations and maintenance, including
22 offsetting any charges to local government users of the
23 system;
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1
2 (B) Acquisition or lease and maintenance of
3 state and local government user equipment;
4
5 (C) Infrastructure development and
6 expansion;
7
8 (D) Other expenses.
9
10 Section 2. W.S. 9-4-715(p) by creating a new
11 paragraph (xvi) is amended to read:
12
13 9-4-715. Permissible investments.
14
15 (p) There is created the pool A investment account.
16 The state treasurer, or his designee, which shall be
17 registered under the Investment Advisor's Act of 1940 as
18 amended if required to be registered by the terms of that
19 act as amended, pursuant to subsections (c) and (d) of this
20 section and after consultation with the state agency or
21 agencies receiving or administering investment earnings
22 from the monies invested in the pool A investment account,
23 may invest monies comprising the pool A investment account
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1 in equities including stocks of corporations in accordance
2 with subsections (a) and (c) through (e) of this section
3 and W.S. 9-4-716. The state loan and investment board, in
4 consultation with the state agency or agencies receiving or
5 administering investment earnings from the monies invested
6 in the pool A investment account, shall annually review the
7 state investment policy statements for the investment pool
8 created by this subsection as required under W.S. 9-4-716.
9 Monies in the following funds shall be invested in the pool
10 A investment account:
11
12 (xvi) The Wyoming public safety communications
13 system trust fund created by W.S. 9-2-1107(a).
14
15 Section 3. There is appropriated one hundred million
16 dollars ($100,000,000.00) from the general fund to the
17 Wyoming public safety communications system trust fund
18 created by W.S. 9-2-1107(a) under section 1 of this act for
19 purposes of funding the corpus of the Wyoming public safety
20 communications system trust fund and investment as
21 authorized under W.S. 9-2-1107(b). This appropriation shall
22 not lapse or revert at the end of any fiscal period.
23
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1 Section 4. This act is effective July 1, 2023.
2
3 (END)
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Statutes affected:
Introduced: 9-4-715