This bill amends various provisions related to the management and distribution of public funds in Wyoming, particularly focusing on the Permanent Wyoming Mineral Trust Fund and the Legislative Stabilization Reserve Account. Key changes include the establishment of a new spending policy for the Permanent Wyoming Mineral Trust Fund, which will allow for an annual spending amount equal to five percent of the previous five-year average market value of the fund. Starting July 1, 2026, any investment earnings exceeding this spending policy will be transferred from the general fund to the Legislative Stabilization Reserve Account. Additionally, the bill specifies that appropriations, loans, or transfers from the Legislative Stabilization Reserve Account will be limited and can only occur under certain conditions.

The bill also modifies the distribution of severance tax revenues, ensuring that excess funds are allocated to the general fund and the school foundation program reserve account. It repeals obsolete language and makes conforming amendments to existing laws. Notably, it removes the previous guarantee provisions related to the Legislative Stabilization Reserve Account and establishes new guidelines for the appropriation of funds for public welfare emergencies. The effective date for most provisions is set for July 1, 2026, with certain sections becoming effective a year earlier.

Statutes affected:
24LSO-0245 v0.4: 39-14-801, 9-4-719