The bill establishes the University of Wyoming College of Agriculture Endowment Fund, creating specific accounts for the endowment and outlining the distribution and authorized expenditures of the funds. It mandates that the University of Wyoming College of Agriculture utilize the earnings from the endowment for various purposes, including academic programs that support Wyoming's agricultural industry, the University of Wyoming extension, and faculty recruitment and retention. The bill also requires the college to seek recommendations for proposed expenditures from relevant legislative committees before spending the distributed funds.

Additionally, the bill appropriates $50 million from the general fund to the newly created endowment fund, ensuring that this amount will not revert to the general fund. It includes provisions for annual reporting on the use and expenditure of the endowment earnings, detailing the programs supported and faculty positions funded. The effective date of the act is set for July 1, 2023. The bill also makes conforming amendments to existing laws to incorporate the new endowment fund into the state's financial framework.

Statutes affected:
Introduced: 9-4-204, 9-4-714