2024 24LSO-0194
STATE OF WYOMING Working Draft
0.4
DRAFT ONLY
NOT APPROVED FOR
INTRODUCTION
HOUSE BILL NO.
State unemployment insurance trust fund-investment.
Sponsored by: Joint Appropriations Committee
A BILL
for
1 AN ACT relating to public funds; providing for the
2 investment of the state unemployment insurance trust fund
3 as specified; and providing for an effective date.
4
5 Be It Enacted by the Legislature of the State of Wyoming:
6
7 Section 1. W.S. 9-4-715(p) by creating a new
8 paragraph (xvi) is amended to read:
9
10
11 9-4-715. Permissible investments.
12
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1 (p) There is created the pool A investment account.
2 The state treasurer, or his designee, which shall be
3 registered under the Investment Advisor's Act of 1940 as
4 amended if required to be registered by the terms of that
5 act as amended, pursuant to subsections (c) and (d) of this
6 section and after consultation with the state agency or
7 agencies receiving or administering investment earnings
8 from the monies invested in the pool A investment account,
9 may invest monies comprising the pool A investment account
10 in equities including stocks of corporations in accordance
11 with subsections (a) and (c) through (e) of this section
12 and W.S. 9-4-716. The state loan and investment board, in
13 consultation with the state agency or agencies receiving or
14 administering investment earnings from the monies invested
15 in the pool A investment account, shall annually review the
16 state investment policy statements for the investment pool
17 created by this subsection as required under W.S. 9-4-716.
18 Monies in the following funds shall be invested in the pool
19 A investment account:
20
21 (xvi) The state unemployment insurance trust
22 fund created by W.S. 27-3-209(a).
23
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2 STAFF COMMENT
3 The bill mandates that the State Unemployment Insurance Trust Fund "shall be
4 invested in the pool A investment account". If the Committee wishes to allow, but
5 not require, investment of the trust fund in Pool A, amendments to this bill draft are
6 required.
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8
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10 STAFF COMMENT
11 Under Article 16, Section 6(a)(ii)(B) of the Wyoming Constitution, this bill requires
12 passage by a two-thirds vote of all the members of each house voting separately.
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14
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16 STAFF COMMENT
17 W.S. 27-3-209(b) authorizes the director of the Department of Workforce Services
18 to determine when and in what amounts withdrawals from the State Unemployment
19 Insurance Trust Fund are necessary. The Committee may wish to consider whether
20 the statute should be amended to limit or otherwise require notice for withdrawal in
21 a manner that is consistent with the liquidity requirements and investment policy of
22 the Pool A Account. For reference, the statute is copied below.
23
24
25 27-3-209. State unemployment insurance trust fund
26 established.
27
28 (b) The director may determine when and in what
29 amounts withdrawals from the state unemployment insurance
30 trust fund for payment of benefits are necessary. Amounts
31 withdrawn for payment of benefits shall be immediately
32 forwarded to the secretary of the treasury of the United
33 States of America to the credit of the state's account in
34 the unemployment trust fund.
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36
37 Section 2. This act is effective July 1, 2024.
38
39 (END)
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Statutes affected:
24LSO-0194 v0.4: 9-4-715