The bill amends the distribution of excess investment earnings from the permanent Wyoming mineral trust fund and the common school account within the permanent land fund. It repeals the spending policy for the common school account and eliminates both the permanent Wyoming mineral trust fund reserve account and the common school permanent fund reserve account. The bill also includes provisions for the transfer of funds from these repealed accounts to their respective main funds, ensuring that all funds are redirected appropriately. Additionally, it makes conforming amendments and repeals obsolete provisions to streamline the management of public funds.

Key changes include the appropriation of earnings from the permanent Wyoming mineral trust fund starting July 1, 2024, and the establishment of a loss reserve account for loans to political subdivisions. The bill mandates that the state treasurer transfer funds quarterly from the legislative stabilization reserve account to the loss reserve account to maintain a balance equal to five percent of outstanding loans. The effective date for these changes is set for July 1, 2024.

Statutes affected:
Introduced: 9-2-1013, 9-4-601, 9-4-719, 16-1-111, 9-4-715