The bill proposes comprehensive reforms to the management and distribution of public funds in Wyoming, including the repeal of certain accounts and amendments to appropriations and loan authority. A significant change is the transfer of responsibility for withholding distributions from noncompliant local governmental entities from the state treasurer to the state auditor. The bill also introduces a new process for the transfer and reversion of funds from repealed accounts and mandates reporting on these financial activities. Key amendments redefine the budget reserve account, now maintained within the general fund, and require the state auditor to transfer unobligated funds to the legislative stabilization reserve account at the end of each fiscal biennium.

Additionally, the bill establishes a municipal solid waste cease and transfer loan account for financing approved municipal solid waste management activities, with interest earned now directed to the general fund. It caps severance tax distributions at $155 million per fiscal year, reallocating excess funds to the general fund, and outlines a new distribution process for additional funds starting in fiscal year 2027. The bill also repeals several existing accounts, including the budget reserve account, transferring all funds to the general fund by July 1, 2026, and requires the state auditor to report on these transfers by October 1, 2026. Overall, the legislation aims to streamline financial processes and improve accountability in public fund management.

Statutes affected:
24LSO-0244 v0.4: 9-2-102, 9-4-220