2023 23LSO-0690
STATE OF WYOMING
HOUSE BILL NO. HB0271
College of agriculture endowment.
Sponsored by: Representative(s) Crago, Eklund, Neiman,
Northrup and Sommers and Senator(s) Boner,
Cooper, Driskill and Steinmetz
A BILL
for
1 AN ACT relating to the University of Wyoming college of
2 agriculture; creating the University of Wyoming college of
3 agriculture endowment; creating accounts for the endowment;
4 providing for distributions and transfers from the accounts
5 to the college of agriculture; specifying authorized
6 expenditures; requiring reporting; making conforming
7 amendments; appropriating funds; and providing for an
8 effective date.
9
10 Be It Enacted by the Legislature of the State of Wyoming:
11
12 Section 1. W.S. 21-16-1205 through 21-16-1207 are
13 created to read:
14
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1 21-16-1205. University of Wyoming college of
2 agriculture endowment fund; accounts; transfers.
3
4 (a) The University of Wyoming college of agriculture
5 endowment fund is created as provided by W.S.
6 9-4-204(u)(x).
7
8 (b) There is created the college of agriculture
9 endowment income account. The state treasurer shall yearly
10 as soon as possible after July 1 place earnings from the
11 investment of monies in the college of agriculture
12 endowment fund in the income account for disbursement and
13 expenditure in accordance with W.S. 21-16-1205 through
14 21-16-1207. The University of Wyoming college of
15 agriculture shall expend an amount not to exceed one
16 hundred percent (100%) of the annual earnings distributed
17 to the college of agriculture endowment income account.
18 Annual earnings deposited in the income account shall be
19 distributed at the times provided in W.S. 9-4-108 to the
20 University of Wyoming college of agriculture.
21
22 (c) Any unexpended, unobligated annual investment
23 earnings remaining in the income account on June 30 of each
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1 fiscal year shall be credited to the University of Wyoming
2 college of agriculture endowment fund created by W.S.
3 9-4-204(u)(x).
4
5 (d) The University of Wyoming board of trustees
6 shall:
7
8 (i) Ensure that any earnings that are available
9 to the college of agriculture are disbursed to the college
10 of agriculture for expenditure in accordance with W.S.
11 21-16-1205 through 21-16-1207 without delay;
12
13 (ii) Not account for any earnings disbursed to
14 the college of agriculture under this section when
15 developing the University of Wyoming's biennial budget
16 request;
17
18 (iii) Not decrease any amount from the
19 University of Wyoming's biennial budget that is budgeted or
20 allocated to the college of agriculture based on the
21 earnings that the college of agriculture receives under
22 this section;
23
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1 (iv) Not later than December 1 of each year,
2 report to the joint agriculture, state and public lands and
3 water resources interim committee and the joint
4 appropriations committee on the development and
5 implementation of the college of agriculture's budget in
6 accordance with this subsection.
7
8 (e) As used in W.S. 21-16-1205 through 21-16-1207,
9 "college of agriculture" or "University of Wyoming college
10 of agriculture" means the University of Wyoming college of
11 agriculture, life sciences and natural resources.
12
13 21-16-1206. University of Wyoming college of
14 agriculture endowment fund; distributions; spending
15 restrictions.
16
17 (a) Subject to subsection (b) of this section, the
18 University of Wyoming college of agriculture shall use the
19 earnings received under W.S. 21-16-1205 only for the
20 following purposes:
21
22 (i) Academic programs that support Wyoming's
23 agricultural industry and are consistent with the original
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1 intent of the University of Wyoming's land grant mission,
2 including ranch management, range management, livestock
3 production, crop production and agricultural economics;
4
5 (ii) The University of Wyoming extension;
6
7 (iii) The Wyoming state veterinary laboratory;
8
9 (iv) The Wyoming agricultural experiment station
10 and the sustainable agriculture research and extension
11 center;
12
13 (v) Instructional and resource materials,
14 classroom equipment and other resources necessary to
15 support the work of the college of agriculture in
16 fulfilling the purposes specified in paragraphs (i) through
17 (iv) of this subsection;
18
19 (vi) The recruitment and retention of faculty
20 with established reputations for excellence in research or
21 instruction in the programs or opportunities specified in
22 paragraphs (i) through (iv) of this subsection.
23
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1 (b) Before expending any funds annually distributed
2 to the University of Wyoming college of agriculture in
3 accordance with W.S. 21-16-1205, the college of agriculture
4 shall seek recommendations for proposed expenditures from
5 the joint agriculture, state and public lands and water
6 resources interim committee and the joint appropriations
7 committee.
8
9 21-16-1207. University of Wyoming college of
10 agriculture endowment; annual report.
11
12 (a) Not later than October 1, 2024 and October 1 of
13 each year thereafter, the University of Wyoming college of
14 agriculture shall report to the governor, the joint
15 appropriations committee and the joint agriculture, state
16 and public lands and water resources interim committee on
17 the use and expenditure of earnings from the University of
18 Wyoming college of agriculture endowment fund, including
19 the following:
20
21 (i) College of agriculture programs supported
22 through the use and expenditure of endowment earnings,
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1 including a listing of expenditures divided by each purpose
2 specified in W.S. 21-16-1206(a)(i) through (vi);
3
4 (ii) Faculty positions partially or fully funded
5 through the endowment program;
6
7 (iii) The name of each faculty member filling a
8 position identified under paragraph (ii) of this
9 subsection, together with that person's education and
10 experience and a summary of the person's research and
11 instructional activities during the preceding academic
12 year;
13
14 (iv) A description of the benefits of the
15 research or instruction provided by the person filling a
16 position identified under paragraph (ii) of this subsection
17 during the preceding academic year, to students,
18 businesses, industries or to other Wyoming residents as
19 required under this article.
20
21 (b) Upon receiving reports by the University of
22 Wyoming college of agriculture on the use and expenditure
23 of earnings as required under subsection (a) of this
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1 section, the joint appropriations committee and the joint
2 agriculture, state and public lands and water resources
3 interim committee shall report to members of the Wyoming
4 legislature and the governor on the progress made by the
5 college of agriculture in achieving the purposes stated in
6 W.S. 21-16-1206 for distributions from the University of
7 Wyoming college of agriculture endowment fund and shall
8 recommend any necessary changes to the college of
9 agriculture endowment program to accomplish these purposes.
10 The reports required under this subsection shall be made in
11 sufficient time to enable consideration by the legislature
12 at the general or budget session immediately following the
13 receipt of reports submitted pursuant to subsection (a) of
14 this section.
15
16 Section 2. W.S. 9-4-204(u) by creating a new
17 paragraph (x) and 9-4-714(a)(v) are amended to read:
18
19 9-4-204. Funds established; use thereof.
20
21 (u) Other funds defined as follows shall be
22 classified by the state auditor pursuant to subsections (s)
23 and (t) of this section:
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1
2 (x) University of Wyoming college of agriculture
3 endowment fund – to consist of funds appropriated or
4 designated to the fund by law or by gift from whatever
5 source. In accordance with article 15, section 20 of the
6 Wyoming constitution, monies within the fund shall not be
7 expended and may be invested in the same manner as other
8 permanent funds of the state. Earnings from investment of
9 monies within the fund are subject to W.S. 21-16-1205 and
10 shall be distributed and expended as provided by law;
11
12 9-4-714. Definitions.
13
14 (a) As used in this act:
15
16 (v) "Permanent funds" means the permanent
17 Wyoming mineral trust fund under W.S. 9-4-204(u)(iii), the
18 Wyoming permanent land fund under W.S. 9-4-204(u)(iv), the
19 excellence in higher education endowment fund under W.S.
20 9-4-204(u)(vi), the Hathaway student scholarship endowment
21 fund under W.S. 9-4-204(u)(vii), the Hathaway expand
22 Wyoming scholarship endowment fund under W.S.
23 9-4-204(u)(viii), and the Wyoming's tomorrow scholarship
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1 endowment fund under W.S. 9-4-204(u)(ix) and the University
2 of Wyoming college of agriculture endowment fund under W.S.
3 9-4-204(u)(x);
4
5 Section 3. There is appropriated fifty million
6 dollars ($50,000,000.00) from the general fund to the
7 University of Wyoming college of agriculture endowment fund
8 created by W.S. 9-4-204(u)(x), as created by section 2 of
9 this act. Notwithstanding any other provision of law, this
10 appropriation shall not revert.
11
12 Section 4. This act is effective July 1, 2023.
13
14 (END)
10 HB0271


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